State Bank of India (SBI) has slipped 5% to Rs 1,965 ahead of its Q1 results tomorrow on worries over lower net interest margins.
Analyst expects, net interest income (NII) to grow by 22% on year-on-year (yoy) basis led by 14% growth in advances, even as net interest margin (NIM) contract slightly by 5 basis points (bps) to 3.5% for the first quarter ended June 30, 2012.
According to market reports, traders cited market concerns about the lender's NIM and expressed worries SBI would post a rise in non-performing loans in the April-June quarter.
The stock opened at Rs 2,067 and hit a high of Rs 2,081 before falling about 6% from day’s high on the NSE. A combined 4.81 million shares have changed hands on the counter so far on both the exchanges.
