CMP: 500

State Bank of Mysore Ltd. has a widespread network of branches all over India that include specialised SSI, industrial finance, corporate accounts, specialised personal banking, treasury, agricultural development, and asset recovery branches. Bank of Mysore is an associate of State Bank of India which holds majority of the Bank's shares.

State Bank of Mysore is a decent bet in mid-cap banking space. Its currently trading at a P/E of 7 with dividend yields of almost 2% in the last 12 months. Revenues have risen from 2494 Crores to 5078 Crores in the last 5 years. Profits have risen from 319 Crores to 369 Crores in the last 5 years. Profit margins have dropped from 13% to 7% over the last 5 years. Its not a great growth pick. Q2 FY2013 results have come in good. One can buy and book profits on the rise.