SBI trades higher on the bourses

SBI is currently trading at Rs. 2444.40, up by 165.30 points or 7.25% from its previous closing of Rs. 2279.10 on the BSE. The scrip opened at Rs. 2337.00 and has touched a high and low of Rs. 2505.10 and Rs. 2337.00 respectively. So far 684886 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2469.25 on 20-May-2013 and a 52 week low of Rs. 1452.90 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs. 2324.00 and Rs. 2083.60 respectively. The current market cap of the company is Rs. 182070.51 crore. The promoters holding in the company stood at 58.60% while Institutions and Non-Institutions held 30.53% and 8.75% respectively. State Bank of India (SBI), country’s largest public sector lender has opened Retail Assets and Small and Medium Enterprises City Credit Center (RASMECCC) in Shillong. RASMECCC is a specialized loan processing, sanctioning and maintenance hub, which deals with the Personal and SME loans of 21 city based branches, handling more than 20000 loan accounts including big branches in the state. The bank reported 34.20% fall in its net profit at Rs 2234.34 crore for third quarter ended December 31, 2013 as compared to Rs 3396.06 crore for the same quarter in the previous year. However, total income of the bank increased by 14.91% at Rs 39060.76 crore for quarter under review as compared to Rs 33992.11 crore for the quarter ended December 31, 2012.