State Bank of India had moved up1.94% to Rs 1714.50 at 10:41 IST on reports that it is planning astock-split SBI hadgained 8.50% in the one month to 6 August 2007 versus the Sensex's0.41%drop. It had added55.51% in the past three months against the Sensex's 8.26% return.At the current price of Rs 1714.50, the scrip trades at a PE multiple of15.82 based on Q1 June 2007 annualised EPS of Rs 108.36. As per reports,State Bank of India (SBI) may announce a stock-split and follow-on publicoffer simultaneously in the next few months. The bank aims to generateliquidity for its share whose value has gone up considerably. Post-split,face value is likely to be Rs 1 or Rs 2 per share.The bank is also planning to split the shares of some of its subsidiaries.SBI has seven associate banks of which three – State Bank of Travancore,State Bank of Mysore and State bank of Bikaner & Jaipur – are listed. Duringmarket hours yesterday, 6 August 2007, SBI announced a reduction as well ashikes in deposit rates based on maturities, effective 9 August 2007.The bank has cut the deposit rate for one year to less than two years to 8%from 8.25%. Simultaneously, it hiked the rate on deposits for 271 days toless than a year to 6.75% from 6.50%. The bank has introduced a new band -three years and up to 10 years - with an interest rate of 8.50% as againstthe earlier five years and above rate of 8.25%. Net profit of SBI rose78.5%to Rs1425.81 crore on a 27.8% increase in operating income to Rs 12229.09 crorein Q1 June 2007 over Q1 June 2006. Government of India holds a 59% stake inSBI.