Government appoints Dinesh Kumar Khara as Managing Director of State Bank of India for a period of 3 years

State Bank of India has informed BSE that in exercise of the powers conferred by clause (b) of section (19) and sub section (1) of Section 20 of the State Bank of India Act, 1955, the Central Government after consultation with the Reserve Bank of India vide Notification dated August 09, 2016, hereby appoints Dinesh Kumar Khara as Managing Director of State Bank of India for a period of 3 years from the date of his taking over charge of the post or until further orders whichever is earlier.

Stock View:

State Bank of India is currently trading at Rs. 233.25, down by Rs. 1.35 or 0.58% from its previous closing of Rs. 234.6 on the BSE.

The scrip opened at Rs. 237 and has touched a high and low of Rs. 237 and Rs. 232.1 respectively. So far 10455689(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 182114.75 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 289.5 on 11-Aug-2015 and a 52 week low of Rs. 148.3 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 237.65 and Rs. 223.2 respectively.

The promoters holding in the company stood at 60.18 % while Institutions and Non-Institutions held 28.34 % and 9.66 % respectively.

The stock is currently trading above its 50 DMA.