SBI trades in green on the bourses
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State Bank of India is currently trading at Rs. 541.15, up by 1.30 points or 0.24% from its previous closing of Rs. 539.85 on the BSE.
The scrip opened at Rs. 537.95 and has touched a high and low of Rs. 544.55 and Rs. 536.95 respectively. So far 800192 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 545.00 on 01-Feb-2022 and a 52 week low of Rs. 321.15 on 19-Apr-2021.
Last one week high and low of the scrip stood at Rs. 545.00 and Rs. 519.75 respectively. The current market cap of the company is Rs. 482152.14 crore.
The promoters holding in the company stood at 57.60%, while Institutions and Non-Institutions held 34.62% and 7.78% respectively.
Central Bureau of Investigation (CBI) has booked Nandini Industries India (NIIPL) along with its Managing Director Haridass Ramesh in an alleged fraud of Rs 218.21 crore in State Bank of India (SBI). It is alleged that the accused diverted loan proceeds through subsidiary companies by submitting inflated invoices.
The loan account was declared as NPA in March 2014 due to non-payment of dues to the State Bank of India. Out of the total limits, an amount of Rs 54.21 crore (approximately) was outstanding as on NPA date (March 30, 2014). The said amount increased to Rs 172.71 crore (approximately) as on November 30, 2019 and to Rs 218.21 crore (approximately) as on March 31, 2021 including interest. The CBI action came on a complaint from the SBI which had declared the account as fraud after forensic audit.
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.
