 Mumbai : The shares of the nation's largest lender SBI on March 8 rose 1.16 per cent following the presentation of State Bank of India (Amendment) Bill, 2010 in the Lok Sabha that seeks to reduce the government stake in its from 59.41 per cent to 51 per cent.
The scrip, which opened firm at Rs 2,065 on the Bombay Stock Exchange, settled at Rs 2,070.25, up 1.16 per cent over its previous close. During the day, stock moved between a high of Rs 2,114 and a low of Rs 2,032.25.
Finance Minister Pranab Mukherjee today moved the State Bank of India (Amendment) Bill, 2010 in the Lok Sabha on March 8. The Bill's statement of objects and reasons say the legislation is aimed at allowing "reduction of shareholding of the Central government from 55 per cent to 51 per cent consisting of the equity shares of the issued capital.
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