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Last Updated : Jul 30, 2020 02:22 PM IST | Source: Moneycontrol.com

SBI shares fall 2% ahead of its June quarter results

Brokerages expect improvement in asset quality on sequential basis with lower slippages than Q4FY20, while provisions could see increase on YoY basis due to COVID-19 but sequentially provisions could be lower.

 
 
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State Bank of India (SBI) share price was down 2 percent on July 30 afternoon ahead of its June quarter earnings.

The bank is expected to see sharp spike in Q1FY21 profitability led by stake sale in life insurance business, but likely additional COVID-19 provisions may limit the growth.

The growth in net interest income could be around 10 percent year-on-year for the quarter, with loan growth at around 7 percent and stable net interest margin for the quarter.

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The stock price was trading at Rs 187.50, down Rs 3.70, or 1.94 percent at 14:04 hours. It has touched an intraday high of Rs 193.50 and an intraday low of Rs 187.30.

It was one of the most active stocks on NSE in terms of volumes with 3,27,98,245 shares being traded.

Brokerages expect improvement in asset quality on sequential basis with lower slippages than Q4FY20, while provisions could see increase on YoY basis due to COVID-19 but sequentially provisions could be lower.

 

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First Published on Jul 30, 2020 02:22 pm
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