Thursday, 12 August 2010

SBI shares zoom on strong Q1 nos; hit all-time high on BSE

Cheering its robust June quarter results, shares of State Bank of India today climbed 5 per cent, hitting a life-time high of Rs 2,733.95 on the BSE, helping it turn green.

The scrip had already opened on a strong note, despite a weak broader market, on the hopes of strong Q1 numbers.

The rise on SBI counter also helped the broader market benchmark Sensex BSE Sensex swing into the green. The was quoting at 18113.62, up 43.43 points, in the afternoon trade.

In the early trade, the Sensex had lost 155 points to hit a low of 17914.78.

The SBI stock accelerated during the mid-session after the Bank announced a rise of 25 per cent in profits, on standalone basis, to Rs 2,914.2 crore for the quarter ended June 30, 2010. The results beat analysts forecast.

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