Banking emerge as top gainer on BSE sectoral chart post SBI’s Q4 results

Banking stocks, recovering from intra-day’s low, bounced back into green after above expectation Q4 numbers from country’s biggest lender, State Bank of India (SBI), cheered investors. Mainly due to a lower base last year and strong demand for loans, SBI posted a sharp rise in its fourth-quarter net profit.

State Bank of India (SBI) is currently trading at Rs 1,909.40, up by 61.30 points or 3.32% from its previous closing of Rs 1,848.10 on the BSE. The scrip opened at Rs 1,820.00 and has touched a high and low of Rs 1,922.80 and Rs 1,820.00 respectively. So far 14,96,796 shares were traded on the counter.

Kotak Mahindra Bank is currently trading at Rs 551.60, up by 11.00 points or 2.03% from its previous closing of Rs 540.60 on the BSE. The scrip opened at Rs 535.10 and has touched a high and low of Rs 553.60 and Rs 534.60 respectively. So far 26,544 shares were traded on the counter.

Punjab National Bank (PNB) is currently trading at Rs 728.00, up by 8.80 points or 1.22% from its previous closing of Rs 719.20 on the BSE. The scrip opened at Rs 711.00 and has touched a high and low of Rs 730.50 and Rs 706.05 respectively. So far 44,190 shares were traded on the counter.

ICICI Bank is currently trading at Rs 795.00, up by 7.75 points or 0.98% from its previous closing of Rs 787.25 on the BSE. The scrip opened at Rs 770.05 and has touched a high and low of Rs 797.50 and Rs 767.00 respectively. So far 307,695 shares were traded on the counter.

State Bank of India, on standalone basis, reported a 194 fold jump in its net profit to Rs 4050.27 crore for the fourth quarter ended March 31, 2012, against net profit of Rs 20.88 crore for the corresponding period last fiscal. Total income has increased by 27.97% at Rs 33,959.54 crore during the quarter under review from Rs 26,536.84 crore in the year-ago period.

For the full year ended March 31, 2012, the bank has reported a surge of 41.66% in its net profit to Rs 11707.29 crore for the year under review, against net profit of Rs 8264.52 crore for the corresponding period last fiscal. Total income increased by 24.33% at Rs 120872.90 crore during the year under review from Rs 97218.96 crore in the year-ago period.

On the consolidated basis, the bank has reported net profit after minority interest of Rs 15343.10 crore for the year ended March 31, 2012, against net profit of Rs 10684.95 crore for the corresponding period last fiscal.  Total income increased by 19.74% at Rs 177032.82 crore during the year under review from Rs 147843.92 crore in the year-ago period.