State Bank Of India

State Bank of India (SBI) is currently trading at Rs. 288.70, up by 3.15 points or 1.10% from its previous closing of Rs. 285.55 on the BSE.

The scrip opened at Rs. 287.20 and has touched a high and low of Rs. 289.40 and Rs. 287.05 respectively. So far 4,20,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 315.00 on 19-May-2017 and a 52 week low of Rs. 222.00 on 11-Jul-2016.

Last one week high and low of the scrip stood at Rs. 289.40 and Rs. 272.40 respectively. The current market cap of the company is Rs. 2,49,379.00 crore.

The promoters holding in the company stood at 57.97%, while Institutions and Non-Institutions held 32.96% and 9.07% respectively.

SBI has received an approval for dilution of its stake in its life insurance arm ‘SBI Life Insurance’ through an initial public offer (IPO) for which it has already secured IRDA approval. The executive committee of the central board (ECCB) of the bank at a meeting held on July 10, 2017 has approved for the same. Once it hits the markets, SBI Life Insurance would become the second insurer after ICICI Prudential Life to go public.

SBI offers a wide range of services in the Personal Banking, Agriculture/Rural, NRI services, SME and Corporate Banking etc. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra.