| State Bank of India Related news |
Market rebounds from day's lows; BHEL up 3%
Posted on 26th November 2014 |
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Markets rebounded from their day's lows in late noon trades following a recovery in select financials and capital goods shares while FMCG major ITC continues to lead gains. At 2:15PM, the 30-share Sensex was up 70 points at 28,407 and the 50-share Nifty was up 19 points at 8,482. |
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Banking shares dip on profit booking
Posted on 25th November 2014 |
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Shares of most of the frontline banks are trading lower between 1-4% on profit booking after rallying 20% in past one and half months. Canara Bank, Bank of India, Federal Bank, Yes Bank, Punjab National Bank, Kotak Mahindra Bank, ICICI Bank and Bank of Baroda are down between 2-4%, while State Bank of India (SBI), IndusInd Bank and Axis Bank are down 1% each on the National Stock Exchange (NSE). |
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ICICI Bank joins Rs 2 lakh crore m-cap club
Posted on 24th November 2014 |
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Banking stocks continue to rally on the bourses, with the market value of the ICICI Bank, crossing the Rs two lakh crore mark. The private sector lender has become the third bank and ninth company in current list of companies having m-cap of over Rs 200,000 crore. ICICI Bank scrip up 1.9% to Rs 1,766 on BSE, taking its market value to Rs 2,04,395 crore at 1121 hours, the BSE data shows. The bank is at the ninth positions in overall market capitalization (m-cap) ranking. |
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SBI plans to become a global banking giant
Posted on 24th November 2014 |
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The bank aims to grow its asset book which would comprise 50% of such local lending in foreign markets State Bank of India (SBI), the country's largest lender, is taking a much bigger stride for its international business and looks all set to grow as a global banking giant. The bank, which has $39 billion worth of outstanding assets in its international book, is planning to double its local lending in foreign markets. The bank, which has struck deep roots in the domestic market with its inclusive banking plans, will take more exposure in foreign companies -- who have no Indian corporate connections, to garner more local business rather than lending only to Indian subsidiaries and associate companies. |
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SBI reclaims most-valued bank status
Posted on 21st November 2014 |
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State Bank of India (SBI) today reclaimed its position as the country's most valued bank with a total market valuation of over Rs 2.25 lakh crore, surpassing private sector player HDFC Bank. At 1008 hours, shares of SBI gained 2.2% to Rs 304 on BSE, taking its market value to Rs 226,734 crore, making it the overall sixth most valued company. |
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SBI turns ex-stock split today
Posted on 20th November 2014 |
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Shares of State Bank of India (SBI) is trading higher by 1% at Rs 294 in early trade on the National Stock Exchange (NSE) after the stock turned ex-stock split today. The stock opened at Rs 295 and touched a low of Rs 291 so far. A combined around one million shares changed hands till 0917 hours on NSE and BSE. |
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Adani lines up $1-bn SBI loan for Australian coal asset
Posted on 18th November 2014 |
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Adani Enterprises on Monday won support from a state-run bank and an Australian state to help it build a $7-billion coal mine, defying a slump in coal prices to five-and-a-half-year lows that has stalled rival projects. The infrastructure conglomerate, whose founder, Gautam Adani, has close ties to Prime Minister Narendra Modi, has signed a memorandum of understanding (MoU) for a loan of up to $1 billion from State Bank of India (SBI) for the mine, rail and port project, which it aims to build by the end of 2017. |
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Sensex trades 35 points lower; HDFC Bank falls
Posted on 17th November 2014 |
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Mumbai: India’s benchmark 30-share Sensex index was trading 35 points lower on Monday morning, led by losses in IT and banking shares. At 9.40am, the BSE Sensex was down 0.13%, or 37.81 points, at 28,008.85 points, while the National Stock Exchange’s broader barometer 50-share Nifty was trading down 0.22%, or 18.15 points, at 8,371.75 points. |
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SBI may provide up to $1 billion loan for Adani's Australia coal mine
Posted on 17th November 2014 |
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Adani Enterprises' $7 billion coal mine, rail and port project got a fillip on Monday, with the company signing an Memorandum of Understanding (MoU) with State Bank of India. The trading and infrastructure conglomerate signed a MoU to line up a loan of up to $1 billion from SBI for the Carmichael mine in Queensland, which it aims to build by the end of 2017. |
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SBI’s strategy shows promise, but no escape from slowdown
Posted on 15th November 2014 |
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State Bank of India’s (SBI’s) strategy over the past three quarters has been to manage bad loans, cut costs and shore up non-interest income. It had declared as much during its December quarter earnings conference. At first look, the bank has so far delivered on its promise, especially when looking at the September quarter numbers. Of course, a sustainable return to growth and a cleaner balance sheet are dependent on the economic recovery. |
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