Stock Market

State Bank of Mysore cuts base rate by 0.10% to 9.9%

At present, private sector HDFC Bank offers the base rate, which is the lowest in the industry at 9.35 percent.

State Bank of Mysore cuts base rate by 0.10% to 9.9%

State Bank of Mysore (SBM), an associate of SBI, today cut the minimum lending rate by 0.10 per cent to 9.90 per cent. “The bank has revised downward the base rate from 10 per cent to 9.90 per cent to be effective from today,” SBM said in a BSE filing. Base rate is the minimum rate below which banks are not allowed to lend.


At present, private sector HDFC Bank offers the base rate, which is the lowest in the industry at 9.35 percent. RBI in its last monetary policy review left short-term lending (repo) unchanged at 7.25 percent.


The central bank will announce its next bimonthly monetary policy on September 29.


It is widely expected that the RBI may cut the repo rate by 0.25 per cent as inflation has been keeping below expectations.

State Bk Mysore stock price

On September 21, 2015, State Bank of Mysore closed at Rs 411.45, up Rs 4.65, or 1.14 percent. The 52-week high of the share was Rs 594.40 and the 52-week low was Rs 392.55.

The company’s trailing 12-month (TTM) EPS was at Rs 89.16 per share as per the quarter ended June 2015. The stock’s price-to-earnings (P/E) ratio was 4.61. The latest book value of the company is Rs 908.41 per share. At current value, the price-to-book value of the company is 0.45.