State Bank of India is currently trading at Rs. 175.00, up by 4.75 points or 2.79% from its previous closing of Rs. 170.25 on the BSE.
The scrip opened at Rs. 172.05 and has touched a high and low of Rs. 177.00 and Rs. 172.05 respectively. So far 1350198 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. 149.55 on 22-May-2020.
Last one week high and low of the scrip stood at Rs. 177.00 and Rs. 155.40 respectively. The current market cap of the company is Rs. 153904.93 crore.
The promoters holding in the company stood at 57.63%, while Institutions and Non-Institutions held 34.25% and 8.12% respectively.
In a major restructuring exercise, State Bank of India (SBI) has created a separate Financial Inclusion and Micro Market (FI&MM) vertical with a focus on rural and semi-urban areas to improve customer experience. Under this newly launched vertical, the bank will offer loans mainly for agriculture as well as allied activities, and micro and small enterprises.
About 8,000 branches in rural and semi-urban areas have been identified for providing specialized services to micro-segment, including micro-credit for small businesses and farmers. The thrust is also to improve service quality and availability of banking services through the bank’s vast network of over 63,000 customer service points in rural, semi-urban, urban and metro areas. The new vertical will provide a boost to the micro-finance sector.
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.