SBI funding to real estate projects an opportunity to 'Buy' post correction

Finance Minister Nirmala Sitharaman said the government will put in Rs 10,000 crore in this AIF while SBI & LIC would provide Rs 15,000 crore, taking the total size to Rs 25,000 crore

State Bank of India (SBI) gained 1 per cent in the early morning deals to trade at Rs 321.7 apiece on the BSE on Thursday after the Union Cabinet on Wednesday approved setting up of a Rs 25,000-crore alternative investment fund (AIF) to revive around 1,600 stalled housing projects across top cities in the country.

At 10:13 AM, the stock was trading 0.8 per cent higher at Rs 320.1, as against a 0.25 per cent rise in the S&P BSE Sensex.

Announcing the decision, Finance Minister Nirmala Sitharaman said the government will put in Rs 10,000 crore in this AIF