May 22, 2018 / 9:32 AM / 6 months ago

BUZZ-India's SBI sees best day since Nov 2017 despite record qtrly loss

** State Bank of India (SBI) surges as much as 6.2 pct to 259.70 rupees, its highest in over a month

** SBI posts fresh slippages of 336.70 bln rupees in Q4

** SBI, the country’s biggest lender by assets, posted its biggest qtrly loss of 77.18 bln rupees ($1.13 bln)

** Management had already indicated that qtrly results will be “very bad”, so this was anticipated, said A K Prabhakar, Head of research at IDBI Capital

** SBI earlier indicated about 500 bln rupees of bad loans but now fresh slippages came in at about 330 bln rupees, which has been completely provided for, Prabhakar said

** Stock posts its biggest intraday gain since Nov. 10, 2017

** Over 53 mln shares traded vs 30-day avg of 16.5 mln shares

$1 = 68.0475 Indian rupees

0 : 0
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