Monday, 27 March 2017

SBI up over 1% on plans to sale 10% stake in SBI Life

Shares of country’s largest lender State Bank of India fell by 1 per cent on the Bombay Stock Exchange after the lender said that it is planning to dilute 10 per cent of its stake in the life insurance venture SBI Life through a public offer. Following the announcement, shares of bank gained as much as 1.68 per cent to hit an intra-day high of Rs 280.70 apiece on the Bombay Stock Exchange. 

In a similar fashion, stocks of lender rose 0.33 per cent to Rs 277.40 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 29,195.93, down 225.47 points or 0.77 per cent, at 12:20 hours.

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