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SBI back on funds' radar

Fund houses have lapped nearly 60 million shares

Chandan Kishore Kant  |  Mumbai 

The shares of the country’s top lender State Bank of India (SBI) are once again back on the radar of equity fund managers. The counter has been ignored by money managers for several quarters in a row. The latest buying in the stock has coincided with the merger announcement SBI and its associates banks.

SBI is among the most-bought by fund managers in June and July. Put together, they have lapped up nearly 60 million shares of SBI, investing a massive Rs 1,350 crore in the banking behemoth. On Tuesday, shares of SBI closed at Rs 254.6 compared to its 52-week high of Rs 268.70. Fund ...

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First Published: Tue, August 23 2016. 22:48 IST