PSU Banking Stocks Rally Post SBI Results

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PSU banking stocks rallied today after the country's largest lender State Bank of India reported a good set of quarterly numbers.

PSU Banking Stocks Rally Post SBI Results
State Bank of India: Quotes, News
BSE 255.35BSE Quote3.8 (1.49%)
NSE 255.60NSE Quote3.5 (1.37%)
Syndicate Bank: Quotes, News
BSE 66.30BSE Quote0.2 (0.30%)
NSE 66.10NSE Quote0.5 (0.76%)
Syndicate Bank gained a huge 3 per cent and was last trading at Rs 117, while other winners were Bank of India with gains of 3 per cent. State Bank of India itself gained over 6 per cent in trade and was last at Rs 301.

ICICI Bank also gained in trade though other private sector banks like HDFC Bank and Axis Bank were having a subdued session.

State Bank of India reported a net profit of Rs 2910 crores as against a net profit of Rs 2234 crores. The bank's performance was much better, though the asset quality continued to deteriorate.

Read more about: sbi
Story first published: Friday, February 13, 2015, 12:31 [IST]
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