State Bank of India trades higher on the BSE

State Bank Of India | Bank - Public | BFSI | BSE: 500112 | NSE: SBIN

16 Apr 2015 Evaluate

State Bank of India is currently trading at Rs. 291.70, up by 1.70 points or 0.59% from its previous closing of Rs. 290.00 on the BSE.

The scrip opened at Rs. 290.00 and has touched a high and low of Rs. 293.70 and Rs. 286.30 respectively. So far 1041569 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 335.90 on 28-Jan-2015 and a 52 week low of Rs. 195.19 on 16-Apr-2014.

Last one week high and low of the scrip stood at Rs. 294.50 and Rs. 272.65 respectively. The current market cap of the company is Rs. 220592.79 crore.

The promoters holding in the company stood at 58.60 % while Institutions and Non-Institutions held 30.45 % and 8.81 % respectively.

In a bid to ramp up its existing network, State Bank of India (SBI) is looking to add another 8,000 ATMs for both accepting and dispensing cash. Of total, the bank will add 4,000 recyclers, which do both cash dispensing and deposits. Apart from that, the bank is also planning to install 2,000 cash dispensers and 2,000 cash deposit machines.

Currently, the bank has an ATM network of 43,000 of its own, which dispense an average of Rs 2,400 crore in cash per day through 25 crore transactions per month.

The RBI last November had capped the number of free transactions a month to five, with a charge Rs 20 for every subsequent transaction, thus ending months of uncertainty.