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 258.40BSE Quote1.55 (0.60%)
NSE 258.50NSE Quote1.7 (0.66%)
Syndicate Bank: Quotes, News
BSE 76.00BSE Quote0.15 (0.20%)
NSE 76.15NSE Quote0.1 (0.13%)
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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