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The SBI stock was trading higher by over 12 per cent after plunging 13.39 per cent to hit its 52-week low in early trading hours. On the BSE, the stock hit a high of ₹232.95, gaining over 9 per cent. On the NSE, it was trading 12.55 per cent higher at ₹239.30.
The country’s largest lender State Bank of India on Thursday said it has received approval to buy ₹7,250 crore worth of shares in crisis-hit Yes Bank. “The executive committee of central board (ECCB) at its meeting held on March 11 accorded approval for purchase of 725 crore shares in Yes Bank at a price of ₹10 per share subject to all regulatory approvals,” SBI said in a regulatory filing.
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