Jun 12, 2012, 05.37 PM IST
Amid economic slowdown and contracting growth in the manufacturing sector, the country's largest lender SBI said it expects 1% cut in Cash Reserve Ratio (CRR) the portion of deposits that banks are required to keep with the central bank for boosting growth.
"We expect the RBI to cut CRR by 1%. It will ease liquidity significantly and lower interest rate," State Bank of India Chairman Pratip Chaudhuri told reporters on the sidelines of an event here.
The Reserve Bank of India (RBI) in its mid-quarter review of monetary policy on June 18 is widely expected to announce steps to boost sagging economic growth, which dipped to nine-year low of 6.5% in 2011-12.
As per the latest data released by the Central Statistical Organisation (CSO), the industrial production during April slowed to 0.1% from over 5.3% in the corresponding month a year ago.
SBI stock price
On December 11, 2013, State Bank of India closed at Rs 1796.70, down Rs 47.85, or 2.59 percent. The 52-week high of the share was Rs 2550.00 and the 52-week low was Rs 1452.90.
The company's trailing 12-month (TTM) EPS was at Rs 179.98 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 9.98. The latest book value of the company is Rs 1445.60 per share. At current value, the price-to-book value of the company is 1.24.
Action in State Bank of India
Video of the day
Dec 11 2013, 09:54
- in Business
Dec 4 2013, 11:08
- in FII View
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.