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Shares in State Bank of India rallied in trade after the company's stock began trading at Re 1 from today, Nov 20. The stock until Wednesday was trading at Rs 2900 with a face value of Rs 10.
However, to make the share more affordable for investors it was split to Re 1 face value, which now means the stock is trading at Rs 296.
The stock was up 2 per cent in early trade at Rs 296. Investors bought into the stock as it now became more affordable. While earlier to buy one share costed a sum of Rs 2900, one can now buy one share at Rs 290.
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