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Shares of State Bank of India were down over 2% at Rs 277 after the state-owned banking major reported lower-than-expected net interest income while rising non-performing assets also weighed on sentiment.
The bank reported a net interest income of Rs 13,732 crore in the quarter ended June 30, 2015 compared to analysts estimate of Rs 15,344 crore.
Further, gross non-performing assets were higher at 4.29% in the qurter compared with 4.25% in the previous quarter. Net non-performing assets also rose 2.24% during June 2015 quarter compared with 2.12% in the previous quarter.
The stock opened at Rs 286 and touched a low of Rs 275. At 12:53PM, over 19 million shares were traded on both the stock exchanges.
