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State Bank Of India climbs on raising $1 billion loan from JBIC to help COVID-hit Japanese auto manufacturers in India

State Bank Of India is currently trading at Rs. 366.10, up by 5.00 points or 1.38% from its previous closing of Rs. 361.10 on the BSE.

The scrip opened at Rs. 361.10 and has touched a high and low of Rs. 367.90 and Rs. 358.20 respectively. So far 2296866 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 426.45 on 18-Feb-2021 and a 52 week low of Rs. 149.55 on 22-May-2020.

Last one week high and low of the scrip stood at Rs. 367.90 and Rs. 345.00 respectively. The current market cap of the company is Rs. 327131.64 crore.

The promoters holding in the company stood at 57.64%, while Institutions and Non-Institutions held 34.90% and 7.46% respectively.

State Bank of India (SBI) has raised an additional $1 billion (around Rs 7,350 crore) loan from Japan Bank for International Cooperation (JBIC) to help COVID-hit Japanese auto manufacturers in India. In October 2020, SBI had signed an agreement to raise a loan of $ 1 billion and the latest borrowing takes the total quantum of loans raised from JBIC to $ 2 billion.

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.

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