SBI shares gain 3% on the purchase of the SBI pension fund.
Shares of the State Bank of India (SBI) rose 2.3% in early trading on June 28 after the executive committee of the Board of Directors. Central Government (ECCB) gives the green light to buy back the whole 20%. shares held by SBI Capital Markets in the SBI pension fund.
SBI traded at Rs 572 each, up 3% from the previous close on the National Stock Exchange. Over the past year, the largest lender in the public sector has delivered a 23% return on the back of improved asset quality and net margin.