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Shares of State Bank of India lost over 1 per cent in morning trade on the bourses today ahead of the company’s quarterly earnings, to be announced later in the day.
Despite making a positive opening, the scrip of the country’s largest lender fell 1.46 per cent to Rs 1,968.30 in early trade on the BSE. Similarly, the stock shed 1.46 per cent to Rs 1,968 on the NSE.
In the previous session, SBI had gained close to 2 per cent.
SBI will announce its financial results for the quarter and half year ended September 30, 2011, today.
In a research note, Brokerage firm Angel Broking said: “We expect the bank to report healthy net interest income growth of 21.9 per cent on a y-o-y basis. Net profit growth is expected to be moderate at 10.7 per cent y-o-y to Rs 2,769 crore.”
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