SBI advances after Board approves divestment of stake in SBI Life

India Infoline News Service | Mumbai | October 17, 2016 16:27 IST

The bank said that the ECCB has approved to dilute up to 5% stake of SBI in SBI Life to a non-promoter entity.

State Bank of India
State Bank of India ended at Rs 253.5, up by Rs 1.6 or 0.64% from its previous closing of Rs 251.9 on the BSE after the bank has informed BSE that the Executive Committee of the Central Board (ECCB) at its meeting held on October 14, 2016 has approved to dilute up to 5% stake of SBI in SBI Life to a non-promoter entity.

The bank said that the ECCB has approved to dilute up to 5% stake of SBI in SBI Life to a non-promoter entity.

The scrip opened at Rs 254 and touched a high and low of Rs 256.3 and Rs 251.9 respectively. A total of 18303779 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 195544.35 crore.

The BSE group 'A' stock of face value Rs 1 touched a 52 week high of Rs 271.55 on 08-Sep-2016 and a 52 week low of Rs 148.3 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs 260.2 and Rs 246.1 respectively.

The promoters holding in the company stood at 60.18 % while Institutions and Non-Institutions held 28.64 % and 9.48 % respectively.

The stock traded above its 50 DMA.

***Note: This is a NSE Chart

 

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