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SBI share price gains nearly 3% ahead of Q1 earnings

BusinessToday.In     July 31, 2020

SBI share price was among the top Sensex and Nifty gainers ahead of the lender's Q1 earnings set to be announced later in the day. SBI share hit intra day high of Rs 191.55, a rise of 2.68% on BSE. The share trades higher than 20 day, 50 day and 100 day moving averages but lower than 5 day and 200 day moving averages.

Share of SBI has lost 42.54% in one year and fallen 42.82% since the beginning of this year. Of 47 analysts covering the stock, 40 have buy or outperform rating, five recommend hold, one underperform and one sell, according to  Reuters.

Market cap of the lender rose to Rs 1.70 lakh crore on BSE.  Total 8.19 lakh shares changed hands amounting to turnover of Rs 15.55 crore on BSE. The large cap stock hit its 52 week high of Rs 351.70 on November 28, 2019 and 52 week low of Rs 149.55 on May 22, 2020.

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On Nifty, the share was trading 2.14% higher at Rs 190.55 against previous close of Rs 186.55. The share touched an intra day high of Rs 191.60, a gain of 2.70% on Nifty.

In Q4 of last fiscal, the country's largest lender SBI reported over four-fold jump in standalone net profit at Rs 3,580.81 crore against a profit of Rs 838.4 crore during January-March period of 2018-19.

Income of the bank during March quarter rose to Rs 76,027.51 crore from Rs 75,670.5 crore in the same period of 2018-19.

Share Market News Live: Sensex rises 100 points, Nifty at 11,145; SBI, ICICI Bank, Infosys top gainers

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