SBI block deal buzz: 10.4 lakh shares likely change hands in multiple trades; stock falls 1.3%
SBI Share Price Today: Shares of State Bank of India (SBI) were in focus on Monday, August 24, amid market buzz over multiple trades involving around 10.4 lakh shares of the country's largest lender.
Zee Business reported that around 10.4 lakh SBI shares were likely involved in multiple deals in the market. However, there is no confirmation yet that the transactions constitute a formal block deal. Details on the buyers, sellers and the exact prices at which the shares changed hands were not immediately available.
At around 2:58 pm, SBI shares were trading at Rs 1,034.60, down Rs 14.10 or 1.34 per cent. At the prevailing market price, 10.4 lakh shares would have a notional value of about Rs 107.6 crore.
The reported activity comes as the SBI stock remained under pressure in afternoon trade, even after the bank delivered a strong set of numbers for the June quarter.
SBI Q1 profit rises 10 per cent
SBI reported a 10.23 per cent year-on-year rise in standalone net profit to Rs 21,121 crore for the quarter ended June 30, 2026. Profit stood at Rs 19,160 crore in the same quarter last year.
Net interest income, or NII, rose 14.88 per cent to Rs 46,992 crore, compared with Rs 40,907 crore a year earlier. The number was also ahead of the Zee Business estimate of Rs 46,470 crore.
Operating profit increased 9.77 per cent year-on-year to Rs 33,529 crore.
SBI's net profit was also ahead of the Zee Business estimate of Rs 18,420 crore.
Asset quality gets better
The bank's asset quality improved further during the quarter.
SBI's gross NPA ratio stood at 1.47 per cent as of June 30, compared with 1.83 per cent a year ago and 1.49 per cent at the end of March.
Net NPA declined to 0.38 per cent, from 0.47 per cent in the year-ago quarter and 0.39 per cent in the March quarter.
The slippage ratio also improved to 0.57 per cent from 0.75 per cent a year earlier.
Meanwhile, SBI's domestic net interest margin improved by 7 basis points sequentially to 3 per cent, while the overall NIM rose to 2.86 per cent.
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