SBI shares gain over 12 pc

The SBI stock was trading higher by over 12 percent after plunging 13.39 percent to hit its 52-week low in early trading hours. On the BSE, the stock hit a high of Rs 232.95, gaining over 9 percent. On the NSE, it was trading 12.55 percent higher at Rs 239.30.

The country's largest lender State Bank of India on Thursday said it has received approval to buy Rs 7,250 crore worth of shares in crisis-hit Yes Bank. "The executive committee of the central board (ECCB) at its meeting held on March 11 accorded approval for the purchase of 725 crore shares in Yes Bank at a price of Rs 10 per share subject to all regulatory approvals," SBI said in a regulatory filing.