Mr. Dinesh Kumar Khara, Chairman, SBI on the Union Budget announced today
(Time Zone: Arizona, USA)
"The Union Budget has unveiled a set of well-crafted and robust policies that encompasses the vision of an Atmanirbhar Bharat. The Budget has rightly envisaged a substantial jump in capital expenditure that has a strong multiplier impact on the economy. The decision to open up the insurance sector, setting up a DFI and an ARC, privatizing a couple of public sector banks are all positive steps for the financial sector. Social sectors have received large attention in the budget with a thrust on developing a health and education infrastructure on a mission mode. This will augment human capital, an essential prerequisite for inclusive growth. The Budget has unveiled a flurry of steps covering all infrastructure sectors that are force multipliers and generates employment. One of the cornerstones of this budget is fiscal numbers that are transparent and has the potential to surprise us on the upside. In principle, the budget has rationalized the off-balance-sheet borrowings and headline fiscal deficit numbers, which will overtly please markets and even rating agencies. The fact that the expenditure announcements in the budget have been matched with the status quo on taxes will please everyone and bolster market sentiments."
Shares of STATE BANK OF INDIA was last trading in BSE at Rs.311.1 as compared to the previous close of Rs. 282.05. The total number of shares traded during the day was 4188552 in over 39298 trades.
The stock hit an intraday high of Rs. 315 and intraday low of 282.75. The net turnover during the day was Rs. 1254510862.