Shares of State Bank of India (SBI) gained 1 percent in the opening trade on Wednesday as company received approval to initiate sale of up to 3.9% of bank's stake in NSE.
"The appropriate authority has accorded approval to explore and initiate the process of divestment upto 3.8958 percent of stake of SBI in National Stock Exchange of lndia through secondary sale," as per company release.
The share touched its 52-week high Rs 351.50 and 52-week low Rs 232 on 26 October, 2017 and 27 April, 2018, respectively.
Currently, it is trading 12.66 percent below its 52-week high and 32.33 percent above its 52-week low.
At 09:22 hrs State Bank of India was quoting at Rs 308.80, up Rs 3.85, or 1.26 percent on the BSE.