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Thursday, October 11, 2007

Cutting interest of State bank of India

oct 11: The BSE Sensex was up 3.16 points, or 0.02, to 18,661.41. The stock hit a high of Rs 1,948 and low of Rs 1,932.50 so far during the day. The stock hit a 52-week high of Rs 1,984 on 1 October 2007 and a 52-week low of Rs 845 on 21 September 2001.

The countrys largest bank share had underperformed the market over the past one month to 10 October 2007, gaining 18.60% compared to the Sensex's return of 20.04%. It had also underperformed the market rising 23.53% compared to Sensex's rise of 23.63% in the past one quarter.
State Bank of India (SBI)s current equity share capital is Rs 526.30 crore. Face value per share is Rs 10.
The current price of Rs 1,930.15 discounts its Q1 June 2007 annualized EPS of Rs 108.36 by a PE multiple of 17.81.
State Bank of India has cut interest rates on new home loans by between 0.5% to 1%. It has cut rates on new cars and two-wheelers loans by 1%.

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