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State Bank of Mysore gains nearly 4% on revision of base rate

By Religare
|

Shares of State Bank of Mysore rose nearly 4 per cent on Bombay Stock Exchange (BSE) after the bank announced that it has revised the base rate downward from 10 per cent to 9.9 per cent. The decision was taken post market hours yesterday and it was made effective starting September 21, 2015. Also, the bank informed BSE that the bench mark prime lending rate will, however, continue to remain at 15 per cent.

 

Reacting to the news, shares of company gained 3.78 per cent in intra-day trade to Rs 427 apiece on the BSE.

In a similar trend, shares of the company surged 3.50 per cent to Rs 429 a piece on National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 26,261.98, up 69 points, or 0.26 per cent, at 11:13 hours.

Story first published: Tuesday, September 22, 2015, 23:00 [IST]
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