The state-owned State Bank of India (SBI) witnessed a volatile session on Wednesday ahead of its financial performance for September 2020 (Q2FY21) announcement.

At around 10.51 am, SBI was trading at Rs203.60 per piece down 0.56% on Sensex.

The stock opened lower at Rs204.40 per piece against the previous closing of Rs204.75 per piece on Sensex.

However, the stock has touched the day’s high of Rs206.45 per piece and Rs202.40 per piece respectively.

Among key things to watch out in SBI’s Q2 result are – new Chairman’s commentary, asset quality, Covid-19 related provisions and loan book.

In June 2020 (Q1FY21) quarter, SBI posted a net profit of Rs4,189cr, rising by 81.18% from Rs2,312cr a year ago same period. Net interest income (NII) which is the difference between interest income and expenses, stood at Rs26,642cr in Q1FY21, representing a growth of 16.14% and 17.02% against Rs22,939cr of Q1FY20 and Rs22,767cr of Q4FY20.

SBI’s provisions stood at Rs12,501.30cr in June quarter, lower compared to Rs13,495.08cr of the previous quarter, however, was higher from Rs9,182.94cr in the same quarter last year.

In percentage terms, gross NPA was at 5.44% versus 7.53% of Q1FY20 and 6.15% of Q4FY20.

The stock will remain in focus amid Q2 result.

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