Shares of SBI Cards and Payment Services (SBI Card) rose 5 per cent to hit a new high of Rs 957.45 on the BSE on Wednesday on the back of heavy volumes. The stock surpassed its previous high of Rs 918.60, scaled on October 15, 2020.
The trading volumes on the counter jumped 1.5 times. A combined 1.95 million equity shares had changed hands on the NSE and BSE, till 10:34 am. Currently, the scrip was trading 4 per cent higher at Rs 948 on the BSE as against a 0.08 per cent decline in the S&P BSE Sensex.
Yes Bank on Tuesday said the loan repayments performance by its retail and small business borrowers has been better than expected, and only Rs 300 crore of the Rs 60,000-crore book has applied for the COVID-19-related loan restructuring scheme.
The collection efficiencies at about 95-96 per cent right now are back to the pre-COVID-19 levels of 97 per cent, its Global Head for Retail Business Rajesh Pental told PTI.
Shares of SBI Cards and Payment Services were up 3 per cent at Rs 855 on the BSE on Friday, gaining 4 per cent in the past two trading days after the company said it has launched credit cards in partnership with the digital payment platform Paytm.
The stock was trading higher for the fifth straight days and up 7 per cent during the week, as compared to 5 per cent rise in the S&P BSE Sensex.
India's largest lender State Bank of India on Tuesday announced that it will slash the marginal cost of funds based lending rate (MCLR) by 35 bps across all tenors. Effective from April 10, SBI's one-year MCLR will be 7.40% from 7.75%.
This is the 11th consecutive cut in MCLR by SBI in FY 2019-20.
The move will be beneficial for borrowers who have MCLR-linked floated rate loans, such as home loans.
The Punjab National Bank (PNB) has become the second-largest nationalized bank of the country - both in terms of business and branch network - after its amalgamation with United Bank of India and Oriental Bank of Commerce which came into effect on April 1.
The State Bank of India (SBI) still remains the largest state-run bank in the country.
Amid businesses getting affected due to the novel coronavirus pandemic, the country's largest lender State Bank of India has opened an emergency credit line to meet any liquidity mismatch for its borrowers.
The additional liquidity facility Covid-19 Emergency Credit Line (CECL), will provide funds up to Rs 200 crore and will be available till June 30, 2020, SBI said in a circular issued on Friday.
The total market capitalisation of companies listed on the Bombay Stock Exchange (BSE) hit an over 32-month low on Thursday as the benchmark indices crashed over 7 per cent after the World Health Organization (WHO) declared the worldwide outbreak of the new coronavirus as pandemic.
Investors had lost a whopping nearly Rs 11 trillion in the stock markets till 11:10 am today. The total investor wealth, measured in terms of the cumulative market value of all listed stocks on the BSE, fell by Rs 10.97 trillion to Rs 126.15 trillion, exchange data shows.
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