The SBI stock was trading higher by over 12 per cent after plunging 13.39 per cent to hit its 52-week low in early trading hours.
On the BSE, the stock hit a high of Rs 232.95, gaining over 9 per cent.
On the NSE, it was trading 12.55 per cent higher at Rs 239.30.
The country's largest lender State Bank of India 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.
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