SBI Life Insurance rebounds 6 per cent

The shares of SBI Life Insurance Company experienced substantial volatility during Friday’s trading session as they rebounded 6.5 per cent after initially plunging 12 per cent upon news of a block deal.

Based on trading data, approximately 7.88 crore shares of SBI Life Insurance Co., representing 7.9 per cent of total paid-up equity, changed hands in 35 block deals through open market transactions on the BSE.

The company reported that CA Emerald Investments was the buyer of the block deals.

With more than Rs. 503 crore worth of shares changing hands, it comes as no surprise that the stock was easily the most active one in terms of value on the NSE for quite a while today.

On Friday, the stock of SBI Life Insurance Company opened at Rs. 580.35 per share and hit a high and low of Rs. 618.20 and Rs. 510.00, respectively. At 12:42 pm, the stock was trading at Rs. 599.45, up 3.18 per cent.