State Bank of India gains; bank to raise Rs. 12,000 crore

The Committee of Directors, duly authorized by the Board, in their meeting, authorized the Bank to raise upto Rs. 12,000 crores (Rupees Twelve thousand crores), by way of issue of Basel III compliant Tier II bonds, through private placement

State Bank of India has informed BSE that the Committee of Directors, duly authorized by the Board, in their meeting held on December 21, 2015, inter-alia, authorized the Bank to raise upto Rs. 12,000 crores (Rupees Twelve thousand crores), by way of issue of Basel III compliant Tier II bonds, at par, through private placement, in such number of tranche(s), at such time(s) as may be considered appropriate and on such coupon(s) as may be decided at time of actual issuance.

The stock is currently trading at Rs. 231.55, up by Rs. 1.2 or 0.52% from its previous closing of Rs. 230.35 on the BSE.

The scrip opened at Rs. 232.1 and has touched a high and low of Rs. 232.3 and Rs. 230.4 respectively. So far 2491043(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 178815.57 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 335.9 on 28-Jan-2015 and a 52 week low of Rs. 220.6 on 07-Sep-2015. Last one week high and low of the scrip stood at Rs. 232.5 and Rs. 224 respectively.

The promoters holding in the company stood at 60.18 % while Institutions and Non-Institutions held 28.73 % and 9.09 % respectively.

The stock is currently trading above its 200 DMA.