SBI stock trades flat in morning deals after lender inks a deal with Andhra Pradesh Food Processing Society
The share of the public lender was trading flat at Rs 572.50 at 9:51 am a day after SBI chairman Dinesh Khara said that Yono 2.0 app would be launched this year.
The State Bank of India was trading flat in early trading on Wednesday (September 9) a day after the bank entered into an agreement with the Andhra Pradesh Food Processing Society (APFPS) to upgrade and support the establishment of at least 7,500 microfood processing units in the state. The agreement will be executed in the 2023–24 fiscal under the Prime Minister Formalisation of Micro Food Processing Enterprises (PMFME) scheme.
The share of the public lender was trading flat at Rs 572.50 at 9:51 am.
A total of 1,84,737 shares had been bought, whereas 6,52,432 shares had been sold at the time of writing the report.
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The bank also had its investor meeting on Tuesday.
Meanwhile, speaking at the Global Fintech Summit on Tuesday, SBI chairman Dinesh Khara said that Yono 2.0 app would be launched this year.
On Monday, the bank also launched the interoperability of CBDC and UPI for seamless transactions.
"This feature, accessible through the 'eRupee by SBI' application, will empower SBI CBDC users to scan any merchant UPI QR code for transactions," the bank said in a statement.
SBI Share Performance
The share of the company has jumped 6.52 per cent in the last year. However, its performance this year has been moderate, as it is down 6.58 per cent year to date.
The share has gone up 0.79 per cent in the last month, while it has jumped just 1.91 per cent in the last six months.
The headline benchmark, the Nifty 50, meanwhile, has slid 0.12 per cent in the last one month, rose 10.52 per cent in the six months, jumped 7.57 per cent YTD, while 10.87 per cent in the last one year.