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Shares of the country’s largest lender SBI rose nearly 4 per cent today after the company said the government has approved a capital infusion of Rs 7,900 crore in the bank.
After starting the day on a bullish note, the stock gained further 3.53 per cent to touch a high of Rs 2,061 on the BSE. On the National Stock Exchange, the stock went up by 3.85 per cent to Rs 2,061.75.
In terms of volume, 2.37 lakh shares were traded on the BSE, while more than 10.24 lakh shares changed hands on the NSE.
The capital infusion will “increase the issued capital by SBI by way of preferential allotment of equity shares to the government to the extent of approximately Rs 7,900 crore including premium,” SBI said in a filing on the BSE.
The Government of India conveyed its approval today, it said.
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