State Bank of India rose 0.46% to Rs 315.60 at 9:40 IST on BSE after the bank said that its board approved raising Rs 8000 crore till 31 March 2017.
The announcement was made after market hours yesterday, 27 December 2017.Meanwhile, the S&P BSE Sensex was up 33.66 points, or 0.10% to 33,945.47.
On the BSE, 5.49 lakh shares were traded in the counter so far, compared with average daily volumes of 9.58 lakh shares in the past two weeks. The stock had hit a high of Rs 316.50 and a low of Rs 314.30 so far during the day. The stock hit a record high of Rs 351.50 on 26 October 2017. The stock hit a 52-week low of Rs 241.10 on 3 January 2017.
State Bank of India (SBI) announced that the central board at a meeting held on 27 December 2017 accorded approval to raise additional tier 1 capital by way of issuance of Basel III compliant debt instrument in dollars and/or in rupees to the tune of Rs 8000 crore from domestic/international market, including masala bonds (rupee denominated), till 31 March 2017.
SBI's net profit fell 37.7% to Rs 1581.55 crore on 39.7% growth in total income to Rs 70865.80 crore in Q2 September 2017 over Q2 September 2016.
Government of India holds 57.07% stake in State Bank of India as per the shareholding pattern as on 30 September 2017.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
