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Published on 25/01/2018 12:48:15 PM | Source: Dion Global Solutions Ltd

SBI falls over 4% on government fund infusion plan

Posted in Stock On The Move| #Banking Sector #SBI #Government #Stock On The Move

Shares of State Bank of India tumbled over 4 per cent on the Bombay Stock Exchange as sentiment was dented by the report that the country’s largest lender would receive less money than investors had expected from the government's recapitalisation plan. Weighed down by the development, stocks of the bank declined as much 4.32 per cent to touch an intra-day low of Rs 315.25 apiece on the Bombay Stock Exchange.

In a similar fashion, shares of the lender were trading 4.05 per cent lower at Rs 316.55 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 36,079.77, down 81.87 points, or 0.23 per cent, at 11:55 hours.