State Bank of Travancore gains on increasing NRE term deposit rates

26 Dec 2011 Evaluate

State Bank of Travancore is currently trading at Rs. 469.00, up by 1.10 points or 0.24% from its previous closing of Rs. 467.90 on the BSE.

The scrip opened at Rs. 465.00 and has touched a high and low of Rs. 471.70 and Rs. 465.00 respectively.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 850.00 on 27-Dec-2010 and a 52 week low of Rs. 454.00 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs. 516.90 and Rs. 454.00 respectively. The current market cap of the company is Rs. 2350.00 crore.

The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 5.61% and 19.39% respectively.

State Bank of Travancore (SBT) has increased its interest rates for NRE deposits across various maturities with effect from December 24, 2011. As per the changes, interest rate for NRE term deposits for a period of one year to less than two years will be 8% against existing rate 3.82%, the highest in recent years.

Interest rate for deposits of a period of two years to less than three years will be 7.50% against 3.51% and for three years and above up to five years, 7% compared to 3.64%.

State Bank of Travancore operates 580 branches in Kerala itself. Headquartered in Kerala, the bank has largest number of ATMs in the home state.

Peers
Company Name CMP
SBI 816.05
Bank Of Baroda 236.10
Canara Bank 97.00
PNB 99.82
Union Bank Of India 115.40
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