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SBI share rises over 3% after lender raises Rs 4,000 crore via AT1 bonds

State Bank of India shares gained 3.34% to the intraday high of Rs 201.4 on BSE against the earlier close of Rs 194.50

twitter-logoBusinessToday.In | September 10, 2020 | Updated 15:38 IST
SBI share rises over 3% after lender raises Rs 4,000 crore via AT1 bonds
SBI share has fallen 29% in one year and lost 40.91% since the beginning of this year.

Shares of State Bank of India (SBI) jumped over 3 percent in intraday trade on September 10 after the lender said it raised Rs 4,000 crore via AT1 bonds. State Bank of India shares gained 3.34% to the intraday high of Rs 201.4 on BSE against the earlier close of Rs 194.50.

The stock also hit an intraday low of Rs 195.25 during today's session, after opening at Rs 197.90. The stock has gained after 2 days of consecutive fall.

It trades higher than 50 day and 100 day moving averages but lower than 5 day, 20 day and 200 day moving averages. The share has fallen 29% in one year and lost 40.91% since the beginning of this year.

Stock price of the lender has risen 1.75% in one month.

SBI stock stands higher than 5, 20, 50 and 100-day but lower than 200-day moving averages. Market capitalisation of the firm stood at Rs 1.76 lakh crore as of today's session.

The public sector lender said it has sold Rs 4,000 crore of the Basel compliant Additional Tier 1 (AT1) bonds at a coupon rate of 7.74 percent.

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In a regulatory filing on September 10, the public sector lender said it has sold Rs 4,000 crore of the Basel compliant Additional Tier 1 (AT1) bonds at a coupon rate of 7.74 percent. As per the BSE filing, this was the lowest pricing ever offered on such debt, issued by any bank since the country started implementing the stringent Basel ll capital rules in 2013.

As the aggregate bids were in excess of Rs 6,000 crore, the bank exercised the full greenshoe option of Rs 3,000 crore over and above the base issue size of Rs 1,000 crore.

In Q1,the lender reported a 81.2% growth in its standalone profit at Rs 4,189.34 crore against Rs 2,312.2 crore profit in the previous quarter an year ago.

Net interest income, the difference between interest earned and interest expended, came 16.1% higher YoY at Rs 26,641.56 crore, compared to Rs 22,938.8 crore in the year-ago period.

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