SBI Life Insurance slips 5% post block deal

According to the media reports, BNP Paribas had sold its stake in the company through the open market.

Mar 29, 2019 04:03 IST India Infoline News Service

Shares of SBI Life Insurance slipped 5% in morning trade on Friday after 36 lakh shares of the company changed hands in a block deal.

According to media reports, BNP Paribas had sold its stake in the company through the open market. BNP Paribas Cardif, the joint venture partner in SBI Life Insurance, had sold 9.2% of its stake in the life insurance company for Rs4,751cr at the price of Rs515 per share, reports added.

SBI Life Insurance Company Ltd is currently trading at Rs584.95, down by Rs31.8 or 5.16%, from its previous close of Rs616.75 on the BSE. The scrip opened at Rs616 and has touched a high and low of Rs616 and Rs577.50, respectively.

The BSE group 'A' stock of face value Rs10 has touched a 52-week high of Rs774.75 on April 27, 2018, and a 52-week low of Rs487 on October 01, 2018. Last one week high and low of the scrip stood at Rs623.55 and Rs600.55, respectively.

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