SBI Q4 Results 2018: SBI share price today fell more than 1% in the morning deals on Monday as India's largest bank by assets State Bank of India is all set to announce the financial results for the quarter and the financial year ended 31 March 2018 today, 22 May 2018 (SBI Q4 results 2018 date).
SBI Q4 Results 2018: SBI share price today fell more than 1% in the morning deals on Monday as India’s largest bank by assets State Bank of India is all set to announce the financial results for the quarter and the financial year ended 31 March 2018 today, 22 May 2018 (SBI Q4 results 2018 date). Over the course of last one year, SBI share price has declined more than 16% despite the announcement of the mega-plan of Rs 2.11 lakh crore to recapitalise NPA-ridden PSU banks. Since the beginning of 2018, SBI share price has been largely falling, although the stock made a high of Rs 329.5 (on the closing basis) on 24 January 2018.
SBI shares were among the top 10 most traded and top 10 highest turnovers on NSE on Tuesday ahead of Q4 results. Up until 11:37 AM, more than 88 lakh equity shares exchanged hands on both NSE and BSE while Rs 204 crore (approx) worth of trade has been done on NSE alone.
Since then, SBI share price has dipped 25% to Rs 245.1 following the downtrodden effects of PNB-Nirav Modi fraud on all PSU banks. SBI share price was also beaten down a couple of times on the back of alleged exposure to the money raised on the basis of fake LoUs obtained by Nirav Modi group companies and another scam of Rs 824 crore involving Kanishk Gold, a Chennai-based jewellery maker. Even today, SBI share price tumbled 1.55% to a day’s bottom of Rs 241.3 on BSE.
SBI share price has fallen 16.75% to Rs 245.1 from a share price level of Rs 294.4 on BSE. In late-October 2017, SBI share price ballooned more than 40% after the Union Finance Minister announced Rs 2.11 lakh crore PSU bank recapitalisation plan.
SBI share price chart (1-year)
Earlier in February 2018, SBI posted its first-ever quarterly loss in the last 19 years due to higher provisions to cover up rising bad loans. State Bank of India reported a consolidated net loss of Rs 1,886.57 crore as against a net profit of Rs 2,152 crore in the comparable quarter last year. On a standalone basis, SBI’s loss came at Rs 2,416 crore for the quarter ended 31 December 2017. In the reporting quarter, SBI’s gross NPAs escalated to 10.35% of total assets or Rs 1.99 lakh crore in absolute terms (highest among all banks in India).