State Bank of Travancore spurts on stock split plan

DALAL STREET SPIKES

State Bank of Travancore (SBT) closed 4.47 per cent higher at Rs 2,594.30 on Wednesday after the company decided to split its stock in the ratio 10:1. Currently, the stock has a face value of Rs 100. The company’s board has fixed December 20 as the record date for the split.

The stock touched a high of Rs 2,607 and a low of Rs 2,531. The scrip touched a 52-week high of Rs 8,300 on January 4, 2008, and a low of Rs 2,235 on October 29, 2008. The current price of Rs 2,594 discounts the bank’s September quarter EPS of Rs 910.64 by a PE multiple of 2.84.