Reuters Market Eye - Shares in State Bank of India rise 2.4 percent on hopes of better-than-expected results and lower non-performing loans in the September quarter, with results due on Friday.
State Bank of India Chairman Pratip Chaudhuri said the bank's September quarter non-performing asset position looking better than the June quarter.
CLSA said in a report on Friday it maintains preference for corporate banks, including State Bank of India, which should benefit as asset quality concerns fade gradually.
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There is a better than even chance that the Reserve Bank of India (RBI) will cut interest rates at its policy meeting on Sept. 29 thanks to inflation striking a record low, according to a Reuters poll, marking a shift in expectations from earlier. Full Article | Related Story