State Bank of Bikaner and Jaipur jumps after stellar Q2 results

State Bank of Bikaner and Jaipur jumped 4.95% to Rs 555.05 at 15:20 IST on BSE after net profit rose 52.25% to Rs 180.63 crore on 8.69% rise in total income to Rs 2620.34 crore in Q2 September 2015 over Q2 September 2014.

The bank announced results during market hours today, 20 October 2015.

Meanwhile, the BSE Sensex was down 50.91 points, or 0.19%, to 27,315.31.

On BSE, so far 37,258 shares were traded in the counter, compared with an average volume of 5,802 shares in the past one quarter.

Shares of associate bank of State Bank of India hit a high of Rs 577 and a low of Rs 522.55 so far during the day. The stock hit a 52-week high of Rs 713.85 on 22 January 2015. The stock hit a 52-week low of Rs 444 on 5 October 2015.

On absolute basis, State Bank of Bikaner and Jaipur's gross non-performing assets (NPAs) stood at Rs 2935.62 crore as on 30 September 2015, compared with Rs 3133.39 crore as on 30 June 2015 and Rs 2782.21 crore as on 30 September 2014. The ratio of gross NPAs to gross advances stood at 4.2% as on 30 September 2015 as against 4.45% as on 30 June 2015 and 4.24% as on 30 September 2014. The ratio of net NPAs to net advances stood at 2.15% as on 30 September 2015 as against 2.36% as on 30 June 2015 and 2.45% as on 30 September 2014.

The bank's provision coverage ratio to gross non-performing assets as on 30 September 2015 is 66.14%.

State Bank of Bikaner and Jaipur also announced during market hours today, 20 October 2015 that the board of directors of the bank at its meeting held on 20 October 2015, have approved raising of capital by additional Tier I of Rs 150 crore and Tier II capital of Rs 750 crore through suitable instruments at an opportune time during the financial year ending 31 March 2016 (FY 2016).

State Bank of India held 75.07% stake in the bank as per the shareholding pattern as at 30 September 2015.

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