SBI Life stock jumps over 2% post block deal; stock among top Nifty 50 gainers

29 Mar 2022 , 09:39 AM

Shares of SBI Life Insurance jumped over 2% on the stock exchange today in the early morning trade. According to the media reports, the company has launched a block deal wherein Canada Pension Fund will sell its 0.56 per cent stake in the company at a price band of Rs1,039 – 1,077 apiece.

This would be the second sale by Canada Pension Fund in a week as in the last week it sold 4 crore shares in Kotak Mahindra Bank.

Meanwhile, the stock is the top performer on the Nifty 50 index as it is the top gainer in the morning trade.

Company on March 22 has informed the exchanges that the Board of Directors of the Company has declared an interim dividend of Rs2/- (Two rupees only) per equity share with a face value of Rs.10 each (i.e. 20%) for the Financial Year 2021-22.

SBI Life Insurance Company Ltd is currently trading at Rs1,092.50 up by Rs14.9 or 1.38% from its previous closing of Rs1,077.60 on the BSE.

The scrip opened at Rs1,107 and has touched a high and low of Rs1,116.70 and Rs1,092 respectively.