SBI trades almost flat
State-run lender announced that its board gave in-principle approval to explore the possibility of diluting the bank's stake in subsidiary, SBI Cards & Payment Services.
Shares of State Bank of India (SBI) fell 0.03% to Rs 289.95 at 13:01 IST on BSE.
The proposed stake dilution will happen through IPO route at an opportune time, subject to the approval of RBI and other regulatory agencies in this regard. The announcement was made during market hours on Wednesday, 14 August 2019. The scrip rose 2.28% to Rs 289.85 in the previous trading session, compared to its previous close of Rs 283.40.
Meanwhile, the S&P BSE Sensex was up 22.63 points or 0.06% to 37,334.16.
On the BSE, 69.15 lakh shares were traded in the counter so far compared with average daily volumes of 14.55 lakh ...