With 0.78 crore shares, State Bank of India stood among the most active stocks in terms of traded volume on NSE in Wednesday’s trade.
The stock got traction after the nation’s largest lender ruled out the additional provisioning towards the 12 largest NPA accounts, which have been referred to insolvency proceedings denting the bottomlines very hard as most of the provisioning has already been done.
The increased provisioning requirements, more or less, in all of these accounts we have pretty large provisions. But yes, we have to make a little more but it should not very badly impact our earnings going forward,” chairman Arundhati Bhattacharya told reporters after the AGM.
Other stocks such as ICICI Bank, Punjab National Bank, DLF, Bank of Baroda, Vedanta, Axis Bank, Tata Steel and Hindalco were also among the other most active stocks in terms of volume on the National Stock Exchange (NSE).
Benchmark equity indices were trading on a cautious note on Wednesday ahead of F&O expiry on Thursday. The NSE Nifty index was almost flat at 9,511.
In the Nifty50 pack, 33 stocks were trading in green, while 18 stocks were in red.