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    PSU Banking Stocks Rally Post SBI Results


    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 303.20BSE Quote0.25 (-0.08%)
    NSE 303.35NSE Quote0.45 (-0.15%)
    Syndicate Bank: Quotes, News
    BSE 39.60BSE Quote0.45 (-1.14%)
    NSE 39.75NSE Quote0.3 (-0.75%)
    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
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