Mumbai, Nov 6 : Shares of SBI today ended with nearly 4 per cent gains, adding Rs 7,025.55 crore to its market valuation, after the country’s largest bank posted 25 per cent rise in standalone net profit for the second quarter ended September 30. After rising 4.48 per cent to Rs 244.70 at BSE during the day, shares of the company finally ended 3.86 per cent higher at Rs 243.25. The stock was the top gainer among the 30-Sensex components. (Also Read: Godrej Industries Q2 up 41% at Rs 135 crore ) Also Read - SBI Recruitment 2021: Application Begins for 67 Pharmacist Posts | Check Important Details Here
On NSE, the stock gained 3.89 per cent to close at Rs 243. Led by the rally in the stock, the company’s market valuation surged by Rs 7,025.55 crore to Rs 1,88,829.55 crore. In terms of volume, 33.58 lakh shares of the company changed hands at BSE and over 3 crore shares were traded at NSE during the day. Also Read - SBI Debit Card PIN Generation: State Bank of India Customers Can Generate SBI Debit Card PIN Through Phone Call; Step-by-Step Guide
“State Bank of India reported Q2 FY16 results, which were above our as well as street expectations,” said Vaibhav Agrawal, VP Research Banking, Angel Broking. SBI today posted 25 per cent rise in standalone net profit at Rs 3,879.07 crore for the July-September quarter of the current financial year. Also Read - Share Market Holidays In April 2021: BSE Sensex, NSE To Remain Close On These Days
The state-owned bank had standalone net profit of Rs 3,100.41 crore in the same quarter of last fiscal. Its total income increased to Rs 46,854.81 crore during the quarter as against Rs 41,833.36 crore a year earlier. On consolidated basis, the bank has reported a net profit of Rs 4,991.70 crore for the quarter under review, compared with Rs 4,023.84 crore in the year-ago period.