CapitalMarket.com - State Bank of Bikaner & Jaipur capitalises on robust earnings
Hot Pursuit Friday, April 24, 2009 12:02 Hrs IST

Print this page


State Bank of Bikaner & Jaipur capitalises on robust earnings

State Bank of Bikaner & Jaipur was locked at 5% upper limit at Rs 274.45 at 12:00 IST on BSE, after net profit surged 63.30% to Rs 148.29 crore in Q4 March 2009 over Q4 March 2008.

The bank announced the results after trading hours on Thursday, 23 April 2009.

Meanwhile, the BSE Sensex was up 34.20 points, or 0.31%, to 11,169.19.

On BSE, 7,755 shares were traded in the counter. The stock had an average daily volume of 5,411 shares in the past one quarter.

The stock hit a high of Rs 274.45 and a low of Rs 267.55 so far during the day. The stock hit a 52-week high of Rs 559 on 25 April 2008 and a 52-week low of Rs 168 on 9 March 2009.

The mid-cap bank stock had outperformed the market over the past one month till 23 April 2009, gaining 35.55% as compared to the Sensex's return of 18.16%. It had underperformed the market in the past one quarter, falling 1.28% as compared to the Sensex's return of 28.37%.

The bank's current equity is Rs 50 crore. Face value per share is Rs 10.

The current price of Rs 274.45 discounts the bank's Q4 March 2009 annualized EPS of Rs 118.63, by a PE multiple of 2.31.

State Bank of Bikaner & Jaipur reported a 15.70% growth in operating income to Rs 1,150.77 crore in Q4 March 2009 over Q4 March 2008. The bank reported a 28.10% increase in net profit to Rs 403.45 crore on 24.5% increase in operating income to Rs 4,387.33 crore in the year ended March 2009 over the year ended March 2008.

At the time of announcing results, the board of directors of the bank has declared a dividend at the rate of Rs 12 per share (120%).

The bank provides banking and treasury services to individuals and corporate clients. It provides short and long term loans to agricultural, small-scale industries and other priority sectors.

Previous Stories
More 4
Other Stories
4  Cadila Healthcare hits record high after strong Q1 results (30-Jul 15:11 Hrs IST)
4  Dr Reddy's Lab gains after stellar Q1 outcome (30-Jul 15:03 Hrs IST)
4  Lupin hits record high after strong Q1 results (30-Jul 14:48 Hrs IST)
4  Dr Reddy's Lab in pink of health after strong Q1 outcome (30-Jul 14:25 Hrs IST)
4  Lupin jumps after Q1 results (30-Jul 14:23 Hrs IST)
4  Monsanto India slips on buzz Govt puts GM crop testing on hold (30-Jul 14:05 Hrs IST)
4  V-Guard Industries hits record high (30-Jul 14:03 Hrs IST)
4  SpiceJet slumps on buzz of financial crisis (30-Jul 13:26 Hrs IST)
4  Indoco Remedies spurts after robust Q1 results (30-Jul 12:59 Hrs IST)
4  Volumes jump at Balkrishna Industries counter (30-Jul 12:43 Hrs IST)
Next4