State Bank of India stock rallies 5%; top Nifty gainer

State Bank of India stock rallied 5% after the bank posted its Q4FY18 numbers. The bank’s revenue has improved by 18.6% yoy to Rs68,436cr. Its NII for the quarter came at Rs19,974cr as against Rs21,065cr yoy.

The bank has reported net loss of Rs7,718cr for the quarter, against profit of Rs2,814.8cr reported in corresponding quarter last year.

Its GNPA for Q4FY18 stood at 10.91% as against 10.35% qoq, which has increased by 56bps. NNPA for the quarter came at 5.73% against 5.61% qoq, which has increased by 12bps.

Management has guided that credit cost to be under 1.1% by FY20E and RoA will be in the region of 0.0-1% for FY20E. It expects slippages to Rs44,000cr for FY19E.

The stock is currently trading at Rs265.15 up by Rs11 or 4.33% from its previous closing of Rs254.15 on the BSE.

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