State Bank of India fell 0.94% to Rs 259.25 at 13:19 IST on BSE after the bank fixed issue price of Rs 269.59 per share for issue of issue of shares on preferential basis to government of India.
The announcement was made before market hours today, 25 November 2016.Meanwhile, the S&P BSE Sensex was up 304.18 points or 1.18% at 26,164.35
On BSE, so far 10.46 lakh shares were traded in the counter as against average daily volume of 25.29 lakh shares in the past one quarter. The stock hit a high of Rs 264.65 and a low of Rs 258.60 so far during the day. The stock had hit a 52-week high of Rs 288.50 on 11 November 2016. The stock had hit a 52-week low of Rs 148.30 on 12 February 2016. The stock had outperformed the market over the past 30 days till 24 November 2016, rising 1.02% compared with the 7.10% decline in the Sensex. The scrip also outperformed the market in past one quarter, gaining 6.08% as against Sensex's 6.92% decline.
The large-cap state-run bank has equity capital of Rs 776.28 crore. Face value per share is Re 1.
State Bank of India (SBI) announced that the committee of directors for capital raising of the bank, in its meeting held yesterday, 24 November 2016, accorded its approval to fix the issue price at Rs 269.59 per share and accordingly, to issue 21.07 lakh equity shares, on preferential basis to government of India, for a consideration of Rs 5680.99 crore.
State Bank of India's net profit fell 34.56% to Rs 2538.32 crore on 8.29% growth in total income to Rs 50742.99 crore in Q2 September 2016 over Q2 September 2015.
State Bank of India is India's biggest bank in terms of branch network. The Government of India currently holds 60.18% stake in SBI (as per the shareholding pattern as on 30 September 2016).
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