SBI-led banks tell Bombay High Court ₹8,752 crore still recoverable from Vijay Mallya: Report
State Bank of India secured new business with December 31 in focus.
· Business Today Mkts, Economic Times Markets, ET Stocks, LiveMint Companies
Opposing Mallya’s plea to quash his money laundering case, the consortium told the court that his challenge to an earlier order dated December 31, 2019, is misconceived. The lenders also noted that certain attached shares in the case remain intact and have not been sold.
Key facts
- Dates in focus
- December 31
The analysis
State Bank of India reported ₹8,752 crore. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -1.6% on the day at ₹939.00, and has returned -7.4% over three months. It sits 24% below its 52-week high. The banks sector has moved -1.7% over the same period, so State Bank of India is running 5.7 points behind its peers.
For State Bank of India, the question is how much of this is already reflected in the price and how much re-rates the banks peer set alongside it.
Market context
- The company directly in focus is SBIN.
- Sector exposure: Banks.
In this story
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