State Bank of India rose 1.94% to Rs 312.30 at 9:36 IST on BSE after the bank's board approved raising Rs 20000 crore through long term bonds.
The announcement was made after market hours yesterday, 17 January 2018.Meanwhile, the S&P BSE Sensex was up 389.26 points, or 1.11% to 35,471.08.
On the BSE, 17.72 lakh shares were traded in the counter so far, compared with average daily volumes of 15.92 lakh shares in the past two weeks. The stock had hit a high of Rs 317.75 and a low of Rs 311.20 so far during the day. The stock hit a record high of Rs 351.50 on 26 October 2017. The stock hit a 52-week low of Rs 241.25 on 19 October 2017.
State Bank of India (SBI) said that the executive committee of central board (ECCB) approved the proposal for issuance of long term bonds of Rs 20000 crore for financing of infrastructure and affordable housing in domestic and overseas market in FY 2017-18 and FY 2018-19.
SBI's net profit fell 37.7% to Rs 1581.55 crore on 39.7% growth in total income to Rs 70865.80 crore in Q2 September 2017 over Q2 September 2016.
Government of India owned 56.61% stake in State Bank of India as per the shareholding pattern as on 31 December 2017.
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