State Bank of Mysore jumped 12.99% to Rs 554 at 9:44 IST on BSE after net profit surged 238.76% to Rs 101.90 crore on 12.61% growth in total income to Rs 1900.52 crore in Q2 September 2014 over Q2 September 2013.
The Q2 result was announced after market hours yesterday, 27 October 2014.
Meanwhile, the S&P BSE Sensex was up 61.45 points or 0.23% at 26,814.35.
On BSE, so far 36,000 shares were traded in the counter as against average daily volume of 783 shares in the past two weeks.
The stock hit a high of Rs 556 and a low of Rs 515.50 so far during the day.
State Bank of Mysore (SBM)'s ratio of gross non-performing assets (NPAs) to gross advances stood at 5.07% as on 30 September 2014 as against 5.13% as on 30 June 2014 and 5.96% as on 30 September 2013. The ratio of net NPAs to net advances stood at 2.94% as on 30 September 2014 as against 2.72% as on 30 June 2014 and 3.69% as on 30 September 2013.
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SBM's provisions and contingencies declined 32.36% to Rs 216.56 crore in Q2 September 2014 over Q2 September 2013.
The bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 10.73% as on 30 September 2014 as against 11.16% as on 30 June 2014 and 10.96% as on 30 September 2013.
State Bank of Mysore is a subsidiary of State Bank of India (SBI), India's biggest commercial bank in terms of branch network. SBI holds 90% stake in State Bank of Mysore (as per the shareholding pattern as on 30 June 2014).
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