
SBI tops Sensex losers’ chart despite record profit in Q1; here’s why
SBI shares ended 2.94% lower at ₹573.25 on the BSE amid surge in selling activities post Q1 results.
SBI shares ended 2.94% lower at ₹573.25 on the BSE amid surge in selling activities post Q1 results.
BoB, which currently holds 100% stake in BOB Financial Solutions, is looking to sell up to 49% stake in the subsidiary.
The shares of SBI rose over 2% in intraday trade on Friday after the PSU bank reported 83% jump in net profit.
The banking stock has declined as much as 7% in the past three sessions as investors resorted to profit booking ahead of its fourth quarter earnings report.
The PSU lender’s total business crossed the ₹21 lakh crore milestones in FY23, aided by double-digit growth in advances and deposits in the March quarter of 2022.
The board of the PSU lender is scheduled to meet on April 18 to consider the fundraising proposal.
The PSU lender has sold its entire 10.01% stake in the asset reconstruction company in a cash transaction.
Most brokerages have assigned “Buy” ratings to SBI shares after Q3 results, with a potential upside of 28% from the current market price.
SEBI has given nod to reclassification of the government’s shareholding in IDBI Bank as ‘public’ post its stake sale in the lender.
The board of SBI is scheduled to meet on January 3 to consider and approve a proposal to raise up to ₹10,000 crore through infrastructure bonds.