SBI banks on good Q1 results

State Bank of India gained 1.45% to Rs 1469.70 at 10:11 IST on BSE on reporting 15.1% rise in net profit to Rs 1640.79 crore in Q1 June 2008 over Q1 June 2007.
The bank announced the results on Saturday, 26 July 2008.
The stock hit a high of Rs 1478.80 and a low of Rs 1445 so far during the day. The stock had a 52-week high of Rs 2396.54 on 14 January 2008 and a 52-week low of Rs 1007 on 1 July 2008.
From a recent low of Rs 1177.8 on 15 July 2008, the stock rose 23% to Rs 1448.75 on 25 July 2008. The The stock had surged 10.45% to Rs 1543.80 on 23 July 2008 as the market surged on that day after the government on 22 July 2008 won trust vote in parliament against left parties. The stock declined 2% to Rs 1448.75 on 25 July 2008 on weak global cues.
The bank has an equity capital of Rs 634.88 crore. Face value per share is Rs 10.
The current price of Rs 1469.70 discounts its Q1 June 2008 annualised EPS of Rs 103.38, by a PE multiple of 14.22.
State Bank of India (SBI) reported a 32.50% surge in total income to Rs 16,203.07 crore in Q1 June 2008 over Q1 June 2007.
State Bank of India raised its benchmark prime-lending rate by 50 basis points to 12.75% with effect from 27 June 2008.
In February 2008, the bank raised about Rs 16,700 crore through rights issue of equity shares. The bank offered one share for every five shares held at Rs 1590 per share
SBI provides banking, treasury and credit management services to individual and corporate clients.