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SBI hits new high after a gap of 1 year; stock surges 5% in 3 days

State Bank of India, on Wednesday, said it will be signing EURO 70 million Line of Credit with KfW (German Development Bank) for supporting Solar PV projects in India

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Photo Credit: Ruby Sharma

Deepak Korgaonkar Mumbai

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Shares of State Bank of India (SBI) hit a new high, after a gap of one year, as the market price of the state-owned lender surged 3 per cent to Rs 640 on the BSE in Friday's intraday trade. The stock surpassed its previous high of Rs 629.65 touched on December 15, 2022.

In the past three trading days, the stock has rallied 5 per cent after SBI, on Wednesday, said it will be signing EURO 70 million Line of Credit with KfW (German Development Bank) for supporting Solar PV projects in India.

SBI is a public sector bank, and is the