SBI down ahead of numbers

SBI is down over 2.5% at Rs.2306, with an intra day low at Rs.2285.15 and volumes are pretty robust at over 2 lakh shares.

The stock is buzzing today as it is set to declare its Q4 and FY13 numbers. Most analysts are expecting very muted numbers, with net profit expected to tumble down around 7-8% (YoY) though QoQ, many are expecting the numbers to pan out much better, with a 5-6% rise in net profit. Improvement in asset quality is expected, with a drop in slippages as Q4 is usually the time when banks go full throttle on recovery.