SBI falls as S&P cuts stand-alone rating

State Bank of India (SBI), the largest banking and financial services company in India, fell on Thursday after Standard & Poor"s Ratings Services revised the stand-alone credit profile (SACP) of the bankto "BBB-" from "BBB" based on its anticipation of the banks" weak asset quality performance. It has revised the SACPs of SBIbecause it expects the banks" asset quality to remain weak and credit costs to stay high and revisedits risk position assessment onSBI to "moderate" from "adequate".Shares ofthebankare trading at Rs 2,206, down Rs 21.2, or 0.95% at the Bombay Stock Exchange (BSE) on Thursday at 12:17 p.m.The scrip has touched an intra-day high of Rs 2,230 and low of Rs 2,192.35. The total volume of shares traded at the BSE is 227,088.In the earlier session, the shares fell 2.32%, or Rs 53, at Rs 2,227.20. Currently, the stock is trading down 10.86% from its 52-week high of Rs 2,474.80 and above 39.97% over the 52-week low of Rs 1,576.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 2,344.80 (117.60) (5.02) 1 Month 1,857.35 369.85 19.91 3 Months 2,179.30 47.90 2.20 6 Months 2,211.45 15.75 0.71 1 Year 1,872.25 354.95 18.96 Note: Based on previous day closing price.