SBI shares end nearly 4% up; mcap rises by Rs 7,025 crore post Q2

Mumbai: Shares of SBI on Friday ended with nearly 4 percent gains, adding Rs 7,025.55 crore to its market valuation, after the country's largest bank posted 25 per cent rise in standalone net profit for the second quarter ended September 30.

After rising 4.48 percent to Rs 244.70 at BSE during the day, shares of the company finally ended 3.86 per cent higher at Rs 243.25.

The stock was the top gainer among the 30-Sensex components.

On NSE, the stock gained 3.89 percent to close at Rs 243.

Led by the rally in the stock, the company's market valuation surged by Rs 7,025.55 crore to Rs 1,88,829.55 crore.

In terms of volume, 33.58 lakh shares of the company changed hands at BSE and over 3 crore shares were traded at NSE during the day.

"State Bank of India reported Q2 FY16 results, which were above our as well as street expectations," said Vaibhav Agrawal, VP Research - Banking, Angel Broking.

SBI today posted 25 percent rise in standalone net profit at Rs 3,879.07 crore for the July-September quarter of the current financial year.

The state-owned bank had standalone net profit of Rs 3,100.41 crore in the same quarter of last fiscal.

Its total income increased to Rs 46,854.81 crore during the quarter as against Rs 41,833.36 crore a year earlier.

On consolidated basis, the bank has reported a net profit of Rs 4,991.70 crore for the quarter under review, compared with Rs 4,023.84 crore in the year-ago period.