SBI shares gain nearly 14 pc

Registering a smart recovery after touching a 52-week low, shares of State Bank of India (SBI) on Friday closed in the green with nearly 14 per cent gain.

On the BSE, the stock gained over 17 per cent to hit a high of Rs 248.95 during the day. It closed 13.87 per cent higher at Rs 242.25.

On the NSE, it hit intra-day high of Rs 248.80, up 17.02 per cent. It ended the day 14.89 per cent higher at Rs 244.25.

In terms of volume, more than 15 crore shares were traded on the NSE, while over 77.38 lakh units were exchanged on the BSE.

The BSE Bankex ended 4.68 per cent higher at 28,890.27.

The country's largest lender SBI on Thursday said it has received approval to buy Rs 7,250 crore worth of shares in crisis-hit Yes Bank.

"The executive committee of central board (ECCB) at its meeting held on March 11 accorded approval for purchase of 725 crore shares in Yes Bank at a price of Rs 10 per share subject to all regulatory approvals," SBI said in a regulatory filing.