SBI rises on planning to acquire about 10% stake in India International Clearing Corporation
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State Bank Of India is currently trading at Rs. 458.20, up by 6.40 points or 1.42% from its previous closing of Rs. 451.80 on the BSE.
The scrip opened at Rs. 454.90 and has touched a high and low of Rs. 460.10 and Rs. 453.05 respectively. So far 322320 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 542.20 on 03-Nov-2021 and a 52 week low of Rs. 269.55 on 28-Jan-2021.
Last one week high and low of the scrip stood at Rs. 462.70 and Rs. 448.60 respectively. The current market cap of the company is Rs. 409461.18 crore.
The promoters holding in the company stood at 57.62%, while Institutions and Non-Institutions held 35.15% and 7.51% respectively.
State Bank of India (SBI) is planning to acquire about 10 per cent stake in the India International Clearing Corporation (IICC). The strategic investment in IICC is aimed at strengthening the financial markets infrastructure.
IICC is the first international clearing corporation set up at GIFT-IFSC that acts as a central counterparty providing clearing and settlement and risk management services. It clears and settles index and single stock derivatives, currency derivatives and debt securities.
SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.
