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business12h ago
Key facts: State Bank of India shares rise 7% after record Q3 profit; Nitin Chugh relieved of duties
- State Bank of India shares surged 7% to ₹1,137 after posting a record Q3 FY26 profit.
- The bank announced Nitin Chugh is relieved of his duties as Deputy Managing Director.
- Chugh’s contract was originally set to end on March 3, indicating a leadership transition.
- The Q3 FY26 profit rose 24.5% year over year, contributing to the stock’s rise.
- Traders reacted positively to SBI's quarterly performance, pushing the stock higher.
- The report notes SBI posted a record quarterly profit for Q3 FY26.
- The article links SBI’s strong earnings to a favorable year-on-year growth in profit.
- No additional leadership changes beyond the deputy managing director appointment were detailed.
- The report provides market context for SBI’s share price movement during the session.
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