Government of India to infuse capital of Rs. 2000 crore in SBI

The Central Board of State Bank of India, in its Meeting held on October 30, 2013, has approved, subject to the approvals from RBI and GoI under section 5(2) of the State Bank of India Act, the infusion of Capital funds to the tune of Rs. 2000 Crore (Rupees Two Thousand Crores) in the State Bank of India by way of preferential allotment of equity shares in favour of the Government of India.

Shares of State Bank of India was last trading in BSE at Rs.1879.40, up by Rs.83.90 or 4.67%. The stock hit an intraday high of Rs.1891 and low of Rs.1790.10.

The total traded quantity was 6.40 lakhs as compared to 2 week average of 4.15 lakhs.

Source : Equity Bulls

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