State Bank of India Share Price – NSE /  BSE

Banks, Mid Cap

State Bank of India announced that the term of Prafulla P. Chhajed, Director, nominated by the Central Government u/s 19(d) of the SBI Act, 1955, ended on 20 December 2024 on account of completion of his term.

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State Bank of India is down for a fifth straight session today. The stock is quoting at Rs 818.75, down 1.69% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.93% on the day, quoting at 23729.80078125. The Sensex is at 78412.16, down 1.02%.State Bank of India has added around 4.87% in last one month.Meanwhile, Nifty Bank index of which State Bank of India is a constituent, has increased around 1.52% in last one month and is currently quoting at 51575.7, down 0.85% on the day. The volume in the stock stood at 41.27 lakh shares today, compared to the daily average of 118.68 lakh shares in last one month.

The benchmark December futures contract for the stock is quoting at Rs 821.4, down 1.61% on the day. State Bank of India jumped 27.18% in last one year as compared to a 11.64% rally in NIFTY and a 6.89% spurt in the Nifty Bank index.

The PE of the stock is 10.56 based on TTM earnings ending September 24.

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Rama Mohan Rao Amara was holding the position of ‘deputy managing director & chief risk officer’ of SBI until his appointment as MD.

Further, Kshitij Mohan, deputy managing director (SARG), has been given the additional charge of deputy MD & group chief risk officer, effective from 18 December 2024 as well.

State Bank of India (SBI) is an Indian multinational, public sector banking, and financial services statutory body. As of 30 September 2024, the Government of India held a 57.51% stake in the bank.

The largest PSU bank’s standalone net profit rose 27.92% to Rs 18,331.44 crore on 15.13% increase in total income to Rs 129,141.11 crore in Q2 FY25 over Q2 FY24.

The scrip shed 0.88% to currently trade at Rs 831.70 on the BSE.

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The key domestic benchmarks traded with significant losses in morning trade, mirroring the negative sentiment in the global markets after the US Federal Reserve’s interest rate decision. The Nifty traded below the 24,000 level. Metal shares witnessed selling pressure for the fifth consecutive trading session.

At 10:29 IST, the barometer index, the S&P BSE Sensex, tumbled 880.41 points or 1.10% to 79,301.79. The Nifty 50 index dropped 247.25 points or 1.02% to 23,951.60.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index slipped 0.75% and the S&P BSE Small-Cap index fell 0.79%.

The market breadth was weak. On the BSE, 1,186 shares rose and 2,463 shares fell. A total of 156 shares were unchanged.

New Listing:

Shares of Inventurus Knowledge Solutions were currently trading at Rs 1,861.35 at 10:15 IST on the BSE, representing a premium of 40.06% as compared with the issue price of Rs 1,329.

The scrip was listed at Rs 1,856, exhibiting a premium of 39.65% to the issue price.

So far, the stock has hit a high of 1,942.10 and a low of 1856. On the BSE, over 4.73 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Metal index dropped 1.73% to 8,913.20. The index fell 6.25% in five consecutive trading sessions.

Vedanta (down 2.38%), Hindustan Copper (down 2.12%), National Aluminium Company (down 2.06%), Jindal Steel & Power (down 1.96%), Tata Steel (down 1.94%), Hindustan Zinc (down 1.78%), Jindal Stainless (down 1.78%), JSW Steel (down 1.74%), Hindalco Industries (down 1.63%) and Welspun Corp (down 1.59%) declined.

Stocks in Spotlight:

State Bank of India declined 1.20%. The bank’s board has appointed Rama Mohan Rao Amara as managing director for three years. Meanwhile, Kshitij Mohan, deputy managing director (SARG) has been entrusted with additional charge of deputy managing director & group chief risk officer with effect from 18 December 2024.

Borosil Renewables slipped 2.97%. The company’s board has decided to withdraw its proposed right issue of an amount not exceeding Rs 450 crore and approved the proposal to raise Rs 600 crore through the preferential issue of equity shares and Rs 100 crore through warrants.

Lupin added 0.45%. The company announced that it has received an approval from the United States Food and Drug Administration (U.S. FDA) for its abbreviated new drug application (ANDA) for Emtricitabine and Tenofovir Alafenamide Tablets.

Emtricitabine and tenofovir alafenamide combination is used together with other medicines to treat human immunodeficiency virus (HIV) infection. HIV is the virus that causes acquired immune deficiency syndrome (AIDS). This medicine is also used for pre-exposure prophylaxis (PrEP) to reduce the risk of HIV-1 infection.

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