State Bank Of India

State Bank of India (SBI) is currently trading at Rs. 276.50, up by 2.35 points or 0.86% from its previous closing of Rs. 274.15 on the BSE.

The scrip opened at Rs. 273.90 and has touched a high and low of Rs. 278.90 and Rs. 272.75 respectively. So far 498921 shares were traded on the counter.

The BSE group 'A' stock of face value Re. 1 has touched a 52 week high of Rs. 335.90 on 28-Jan-2015 and a 52 week low of Rs. 226.89 on 14-May-2014.

Last one week high and low of the scrip stood at Rs. 277.00 and Rs. 259.95 respectively. The current market cap of the company is Rs. 208865.17 crore.

The promoters holding in the company stood at 58.60% while Institutions and Non-Institutions held 30.45% and 8.81% respectively.

State Bank of India (SBI) is planning to launch SBI Foundation, a company that will undertake activities pertaining to corporate social responsibility (CSR) on behalf of the group. The bank has received approval from the Reserve Bank of India (RBI) for setting up the company, which is likely to be launched on July 1, the foundation day of the bank.

As per the revised Companies Act, corporates have to mandatorily set aside 2 per cent of their net profit of the previous year for CSR activity. The rule, however, is not applicable to commercial banks as they are governed by the Banking Regulation Act, which does not mandate this.