Sunday , November 17 2019
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SBI rises on partnering with SLCM

State Bank of India is currently trading at Rs. 342.85, up by 1.40 points or 0.41% from its previous closing of Rs. 342.50 on the BSE.

The scrip opened at Rs. 342.60 and has touched a high and low of Rs. 346.60 and Rs. 336.95 respectively. So far 516752 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 373.70 on 18-Jul-2019 and a 52 week low of Rs. 247.65 on 26-Oct-2018.

Last one week high and low of the scrip stood at Rs. 359.50 and Rs. 336.30 respectively. The current market cap of the company is Rs. 306248.04 crore.

The promoters holding in the company stood at 57.88%, while Institutions and Non-Institutions held 34.67% and 7.45% respectively.

Sohan Lal Commodity Management (SLCM) has entered into a strategic partnership with State Bank of India (SBI) for Collateral management and warehousing services. As part of this Collateral management agreement, SLCM will be the custodian of the commodities which the bank has taken as a security against the loans, issued by it.

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.