State Bank Of India

State Bank of India is currently trading at Rs. 319.20, up by 1.60 points or 0.50% from its previous closing of Rs. 317.60 on the BSE.

The scrip opened at Rs. 321.70 and has touched a high and low of Rs. 323.95 and Rs. 318.20 respectively. So far 413444 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 373.70 on 18-Jul-2019 and a 52 week low of Rs. 244.35 on 09-Oct-2019.

Last one week high and low of the scrip stood at Rs. 331.90 and Rs. 309.50 respectively. The current market cap of the company is Rs. 285498.32 crore.

The promoters holding in the company stood at 57.68%, while Institutions and Non-Institutions held 35.54% and 6.78% respectively.

The Gujarat government has signed Memorandum of Understanding (MoU) with State Bank of India (SBI) to facilitate approval of loans to entrepreneurs in the MSME sector with ease and within a short time-frame. As per the MoU, the bank will provide working capital to entrepreneurs seeking to start new micro, small and medium enterprises (MSME) within a short time -frame after providing theoretical approval within 15 days of making an application.

The bank decided to help MSME entrepreneurs in Gujarat looking at their high recovery rate.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.