 "SBI stock gains 4.5% on savings rate cut; mcap up Rs 11,525 cr")
Shares of State Bank of India on Monday closed with 4.5 per cent gain after it cut the interest rate on savings bank account deposits up to Rs 1 crore by 0.5 per cent to 3.5 per cent.
The scrip soared 4.46 per cent to settle at Rs 312.55 on BSE. During the day, it had jumped 4.91 per cent to Rs 313.90.
On NSE, the stock rose by 4.48 per cent to close at Rs 312.50.
It was the top gainer on both the key indices during the day.
The company's market valuation also rose by Rs 11,524.74 crore
