SBI Q3FY08 Results

State Bank of India (SBI) has announced the following Unaudited results for the quarter ended December 31, 2007:

The Bank has posted a net profit of Rs 18086.40 million for the quarter ended December 31, 2007 as compared to Rs 10650.60 million for the quarter ended December 31, 2006. Total Income has increased from Rs 112683.80 million for the quarter ended December 31, 2006 to Rs 153640.00 million for the quarter ended December 31, 2007.

The Consolidated results are as follows:

The Group has posted a net profit after minority interest of Rs 23836.60 million for the quarter ended December 31, 2007 as compared to Rs 15244.20 million for the quarter ended December 31, 2006. Total Income has increased from Rs 170451.30 million for the quarter ended December 31, 2006 to Rs 243809.90 million for the quarter ended December 31, 2007.

SBI rights issue

State Bank of India (SBI) has informed that the Government of India has conveyed its approval vide their letter dated December 03, 2007 to subscribe to the proposed Rights Issue of Equity Shares of the Bank. The subscription of around Rs 10,000 crore (Rupees Ten Thousand Crore) will be by way of issue of SLR, Marketable Government Securities and a Security Redemption Fund will be created for redeeming these securities on the due date.

SBI to acquire Dena, UCO Banks

With reference to the news item appearing in a leading financial daily titled "SBI may absorb Uco, Dena banks, UCO Bank Ltd has clarified to BSE that neither the Bank is aware of the contents of the subject news item nor the Bank's Board of Directors has so far discussed such issues in their meeting.

Therefore, the Bank deny the contents of this news items.

SBI Q2 Results

State Bank of India (SBI) has announced the following Unaudited results for the quarter ended September 30, 2007:

The Bank has posted a net profit of Rs 16114.20 million for the quarter ended September 30, 2007 as compared to Rs 11844.90 million for the quarter ended September 30, 2006. Total Income has increased from Rs 102373.10 million for the quarter ended September 30, 2006 to Rs 136582.20 million for the quarter ended September 30, 2007.

The Consolidated results are as follows:

The Group has posted a net profit after minority interest of Rs 21507.20 million for the quarter ended September 30, 2007 as compared to Rs 17344.40 million for the quarter ended September 30, 2006. Total Income has increased from Rs 155139.20 million for the quarter ended September 30, 2006 to Rs 214242.60 million for the quarter ended September 30, 2007.

Kotak Institutional - State Bank of India

Kotak Institutional retains a target price of Rs 1450

The Left is a spoilsport

May delay capital raising plans of SBI

SBI traded at 20% premium

Trades between FIIs generated a volume of Rs 239 crore on the BSE Monday-an decrease of 47.83% from Rs 458 crore clocked on Friday. As many as 11 stocks witnessed trades of 48 lakh shares on Monday.

SBI was traded at highest premium of 19.53% on NSE with 24,192 shares changing hands at Rs 1,920.45 as against the spot price of Rs 1,606.65.

Union Bank was traded second highest premium of 10.09% on the BSE with 8 lakh shares changing hands at Rs 155 as against the spot price of Rs 140.80.

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