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SBI gains on plan to lend Rs 10,000 crore to six telecom winners of airwaves

19 Feb 2014 Evaluate

State Bank of India is currently trading at Rs. 1506.00, up by 6.95 points or 0.46 % from its previous closing of Rs. 1499.05 on the BSE.

The scrip opened at Rs. 1500.00 and has touched a high and low of Rs. 1515.65 and Rs. 1498.00 respectively. So far 271077 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2469.25 on 20-May-2013 and a 52 week low of Rs. 1452.90 on 28-Aug-2013.

Last one week high and low of the scrip stood at Rs. 1539.95 and Rs. 1455.95 respectively. The current market cap of the company is Rs. 112359.25 crore.

The promoters holding in the company stood at 62.31 % while Institutions and Non-Institutions held 26.74 % and 8.53 % respectively.

State Bank of India (SBI) would be lending up to Rs 10,000 crore to six telecom companies that won airwaves in the just concluded 2G spectrum auction last week, which would be backed by assets of the respective companies as collateral.

The bank this time around is exercising caution after the Supreme Court scrapped 122 mobile licenses belonging to nine telecom companies in 2012 as it found fault with the process by which they had been awarded, which led to some of the companies. This led some companies exiting the sector, consequently putting at risk some Rs 4,500 crore of loans made by SBI.

Previously, lenders handed out thousands of crores to telecom at the time of 3G auction in 2010, with just licences being the collateral. However, lenders, both public and private, now are seeking pledges of shares and spectrum as collateral as they realized that if any operator were to default or permits were scrapped, they couldn't do much to recover funds as they just had the licences as security.

 

SBI Share Price

1063.20 -3.50 (-0.33%)
13-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
SBI 1063.20
PNB 110.75
Canara Bank 138.90
Bank Of Baroda 275.85
Union Bank Of India 184.70
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