Stock market update: SBI shares shed 4%

NEW DELHI: Shares of traded 3.85 per cent down in Friday's trade at 02:33PM (IST). Around 52276447 shares changed hands on the counter. The stock opened at Rs 415.0 and touched an intraday high and low of Rs 415.0 and Rs 395.2, respectively, in the session so far.

The finance ministry has raised concerns over SBI’s plan to set up a joint venture with HDFC Bank and Bank of Baroda under the central bank’s new umbrella entity (NUE) framework, worried that it could squeeze the National Payments Corporation of India (NPCI).

The stock quoted a 52-week high of Rs 422.75 and a 52-week low of Rs 150.2.

Financials
State Bank of India, incorporated in the year 1955, is a banking company (having a market cap of Rs 362294.61 Crore).

State Bank of India key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest and Interest On Balances with RBI and Other Inter-Bank Funds for the year ending 31-Mar-2020.

Promoter holding
Promoters held 56.92 per cent stake in the company as of quarter ended 31st Dec 2020.

Valuation ratio
It quoted a price-to-earnings ratio of 15.24 and price to book value of 0.77.