Moneycontrol
May 18, 2012 01:45 PM IST | Source: Moneycontrol.com

SBI gains 4% post strong performance in Q4 nos

State Bank of India (SBI) rallied as much as 4% intraday on Friday to touch a high of Rs 1,922.80 after excellent performance in quarterly numbers. The bank reported a higher than expected profit after tax of 4,050 crore for the fourth quarter of financial year 2011-12 due to improvement in asset quality.

 
 
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Country's largest lender State Bank of India (SBI) rallied as much as 4% intraday on Friday to touch a high of Rs 1,922.80 after excellent performance in quarterly numbers. The bank reported a higher than expected profit after tax of 4,050 crore for the fourth quarter of financial year 2011-12 due to improvement in asset quality. Analysts on average had expected it at Rs 3,580 crore. Net non-performing assets declined at 1.82% versus 2.22% quarter-on-quarter. 
 
At 13:37 hours IST, the share was trading at Rs 1,902.80, up 2.96%. Even its trading volumes increased 81% to 14,70,135 shares as compared to its 5-day average of 811,037 shares.
 
In the previous trading session, the share closed up 1.03% or Rs 18.90 at Rs 1,848.10. Market capitalisation of the company stands at Rs 127,686.41 crore.

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