SBI hits 6-month high; stock up 19% in one month

SBI hit its highest level since February 2, 2018, was up 3% to Rs 307 in intra-day trade on Monday, extending its Friday's 1.6% gain on the BSE.

Shares of State Bank of India (SBI) hit a six-month high of Rs 307, up 3% on the BSE on Monday, extending its Friday’s 1.6% gain after the public sector lender and Reliance Jio tied up to provide a platform offering digital banking, commerce, and financial services to customers.

“Post operationalization of Jio Payments Bank (a 70:30 JV between RIL and SBI) Jio and SBI are deepening their partnership to bring next-generation bilateral frictionless experience with exclusive digital Banking, Payments and Commerce journeys for their customers,” Reliance Jio said in media release.

In separate filing SBI on Friday