Today, the SBI shares are in focus as the bank will consider raising funds on June 11, when its board of directors will meet to discuss raising funds. They plan to raise up to $3 billion through a public offer or private placement of senior unsecured notes in US Dollars or other major foreign currencies during FY 2024-25.
SBI’s stock closed 14.42% lower at Rs 775.20 on Tuesday, resulting in a market cap drop to Rs 6.91 lakh crore. On the BSE, 79 lakh shares were traded, totaling Rs 634.64 crore.
SBI Stock Highlights
- Closing Price: SBI stock closed at Rs 775.20 on Tuesday, marking a 14.42% decrease.
- Market Cap: SBI’s market cap fell to Rs 6.91 lakh crore.
- Trading Activity: 79 lakh shares exchanged hands, totaling a turnover of Rs 634.64 crore on BSE.
- 52-Week Low: The stock’s lowest price last year was Rs 543.15 on October 26, 2023.
- Relative Strength Index (RSI): The RSI stands at 42.2, indicating the stock is neither overbought nor oversold.
- Volatility: SBI stock has a low one-year beta of 0.9, showing minimal volatility.
- Moving Averages: Currently, SBI shares are below the 5-day, 10-day, 20-day, and 50-day moving averages but above the 100-day and 200-day moving averages.
- Yearly Performance: The stock rose by 20.76% in 2024 and has gained 67% over the past two years.
The bank often raises money in overseas bond markets to fund its international loans. In January, they raised $600 million with five-year US dollar bonds at a 5.1% interest rate from their London branch. This followed a $250 million green bond issue in December 2023.
Another bank, Canara Bank, also plans to raise ₹8,500 crore in the financial year 2024-25. Depending on market conditions and approvals, they will issue ₹4,000 crore in Tier I bonds and ₹4,500 crore in Tier II bonds.
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