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SBI nears record high on fundraising plan; stock rises 7% in six days

The meeting of the bank's central board is scheduled to be held on Monday, July 1, to consider raising capital via Basel-III compliant debt instruments during the financial year 2020.

SBI plans to mop up Rs 5,000-crore debt capital via tier-II bonds
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SI Reporter Mumbai
State Bank of India (SBI) shares were trading 1 per cent higher at Rs 362 on the BSE, after the state-owned lender said its board will consider raising capital additional tier-1 capital. The stock was trading close to its all-time high of Rs 364 touched on May 23, 2019 in intra-day trade.

The meeting of the bank's central board is scheduled to be held on Monday, July 1, to consider raising capital via Basel-III compliant debt instruments during the financial year 2020, SBI said in the filing after market hours on Wednesday.

SBI was trading higher for the sixth

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First Published: Jun 27 2019 | 11:00 AM IST

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