PSU Bank Stocks Surge 13% As Bulls Return to D-Street; Should you Buy?
2 years ago

PSU Bank Stocks Surge 13% As Bulls Return to D-Street; Should you Buy?

News 18  

After declining almost 10 per cent in the last session due to Covid fears, Fed rate hike, PSU bank stocks rebounded, gaining up to 13 per cent in Monday’s trade. In Q2, most PSU banks reported stellar earnings coupled with improvements in asset quality and rising credit growth numbers. Large PSU banks like SBI, BoB, Canara Bank are are trading at ~0.8-1x P/BV, which paves the way for a further re-rating as peak valuations remain at ~1.2-1.5x in FY12-14. It has now been tested, so we believe one way can come from here for new high stop loss at 41,400.” Bank Nifty Outlook Some analysts however remain cautious that gains in Indian markets could be capped in the short to medium term due to high valuations and the probability of a recession in the US.

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History of this topic

Nifty PSU Bank tumbles over 4% to 6-week low amid weak Q3 business updates; Union Bank of India top laggard
1 week, 2 days ago

Nifty PSU Bank tumbles over 4% to 6-week low amid weak Q3 business updates; Union Bank of India top laggard

Live Mint  

Indian PSU banking stocks were hammered by investors in today's session, January 6, as the business updates for the December-ending quarter released by state lenders over the weekend failed to cheer market sentiment, leading to a sharp decline across all major counters. The bank reported that its deposits grew by only 3.8% year-on-year for the December quarter, reaching ₹12.16 lakh …

PSU bank stocks extend dominance over private lenders in 2024, record 4 consecutive years of gains
1 week, 5 days ago

PSU bank stocks extend dominance over private lenders in 2024, record 4 consecutive years of gains

Live Mint  

Shares of public sector banks delivered a strong performance in 2024, extending their winning streak to the fourth consecutive year, while private sector banks remained muted during this period, ending the year with mild losses and halting a three-year winning run. Beyond stock returns, public sector banks also outperformed private sector banks in the September quarter earnings. In addition, non-banking …

PSU banks to cross ₹1.5 lakh cr profit in FY’25, low deposit mobilisation concern
2 weeks, 5 days ago

PSU banks to cross ₹1.5 lakh cr profit in FY’25, low deposit mobilisation concern

Live Mint  

New Delhi, Dec 27 Low NPAs and double-digit credit growth are expected to drive profits of public sector banks past the ₹1.5 lakh crore milestone in 2024-25. Public lenders recorded their highest-ever aggregate net profit of ₹1.41 lakh crore in 2023-24 on the back of significant improvement in asset quality, credit growth, healthy capital adequacy ratio and rising return on …

Stock market today: Sensex, Nifty 50 end flat; Reliance, HDFC Bank among top drags
2 weeks, 6 days ago

Stock market today: Sensex, Nifty 50 end flat; Reliance, HDFC Bank among top drags

Live Mint  

Lacklustre global cues amid holiday-thinned trade kept sentiment low. "Concerns over FII outflows and the depreciating rupee persist, given the strengthening US dollar index and worries about potential adverse tariffs and rate cuts in 2025, holding the muted market trend," said Nair. Sectoral indices today Among the sectoral indices, Nifty Auto, Healthcare and Pharma indices rose almost 1 per cent. …

2024 Review: BSE PSU index soars 23%, extends gains to 4th year. Which stocks led the rally?
3 weeks, 1 day ago

2024 Review: BSE PSU index soars 23%, extends gains to 4th year. Which stocks led the rally?

Live Mint  

Indian PSU stocks extended their winning streak to the fourth consecutive year in 2024, as the demand for state-owned stocks remains robust, driven by strong financial performance, policy continuity, political stability, strong order flows, and investor confidence. Nevertheless, the strong first half has supported the BSE PSU index, allowing it to end the year with strong returns. BSE PSU Stocks: …

Stocks to buy: Two stock recommendations from MarketSmith India for 16 December
4 weeks, 2 days ago

Stocks to buy: Two stock recommendations from MarketSmith India for 16 December

Live Mint  

The Nifty 50, India’s benchmark index, saw volatile trading on 13 December as it retested its breakout level—the downward-sloping trendline connecting the highs of 6 November and 27 November. Read this | Market sees sharpest swing in 6 months before closing in green On the weekly chart, the Nifty 50 formed a bullish candle with a lower shadow, signalling support …

Two small-cap PSU banks set for a leap?
1 month ago

Two small-cap PSU banks set for a leap?

Live Mint  

The Indian stock market has seen remarkable movements in recent years, with public sector undertaking banks emerging as a standout sector. Within this space, small-cap PSU banks like UCO Bank and Central Bank of India are showing significant potential and positioning themselves as future leaders. This scenario would likely benefit smaller PSU banks like UCO Bank and Central Bank of …

Stock market today: Sensex, Nifty 50 gain for fifth session in a row. What drives the Indian stock market? What to buy?
1 month, 1 week ago

Stock market today: Sensex, Nifty 50 gain for fifth session in a row. What drives the Indian stock market? What to buy?

Live Mint  

Stock market today: Extending their winning streak into the fifth consecutive session, Indian stock market benchmarks—the Sensex and the Nifty 50—ended higher by a per cent each on Thursday, December 5. Both key indices, the Sensex and Nifty 50, surged over 1 per cent during afternoon trade, with the Sensex climbing 1,850 points from its intraday low. Sectoral indices today …

Banking revival in 2025: Why strong liability franchises stand to gain
1 month, 1 week ago

Banking revival in 2025: Why strong liability franchises stand to gain

Live Mint  

Indian bank stocks are waiting for their moment in the sun. Read this | Private lenders see stress in credit cards, personal loans in Q2 Elevated deposit costs and sluggish base growth weighed heavily on net interest margins for both public and private banks. Public vs private banks Credit costs for private banks increased by 10 basis points sequentially, with …

Sensex, Nifty rebound sharply: 3 factors behind stock market rally
1 month, 1 week ago

Sensex, Nifty rebound sharply: 3 factors behind stock market rally

India Today  

Benchmark indices staged a sharp recovery on Thursday, with the S&P BSE Sensex gaining 519.23 points to reach 81,475.56 by midday, and the NSE Nifty50 rising 148.75 points to 24,616.20. Here are three factors behind the stock market rally: WALL STREET CHEERS US FED’S COMMENTARY ON ECONOMY A key factor was the rally in US markets, fuelled by upbeat comments …

Banking stocks shine ahead of RBI MPC meeting outcome; HDFC Bank, ICICI Bank, SBI among 8 top picks of experts
1 month, 1 week ago

Banking stocks shine ahead of RBI MPC meeting outcome; HDFC Bank, ICICI Bank, SBI among 8 top picks of experts

Live Mint  

Several banking stocks, including HDFC Bank, ICICI Bank and SBI, traded with healthy gains on Wednesday, December 4, fuelled by hopes of supportive monetary policy from the Reserve Bank of India after recent macroeconomic data signalled a slowdown in India's growth momentum. Abhishek Pandya, a research analyst at Stoxbox, pointed out that the Nifty Bank has risen by 6 per …

Sensex, Nifty end higher as banking stocks rally on RBI rate cut hopes
1 month, 1 week ago

Sensex, Nifty end higher as banking stocks rally on RBI rate cut hopes

India Today  

Benchmark stock market indices closed higher on Wednesday, maintaining their positive momentum fuelled by gains in banking sector stocks over a possible rate cut in the RBI MPC announcement on Friday. Vinod Nair, Head of Research, Geojit Financial Services said that the domestic market maintained a positive trajectory, despite some volatility stemming from mixed sentiments in Asian markets due to …

Nifty PSU Bank index logs 7% gain in 4 sessions; Bank of India and 5 other constituents rise up to 10%
1 month, 2 weeks ago

Nifty PSU Bank index logs 7% gain in 4 sessions; Bank of India and 5 other constituents rise up to 10%

Live Mint  

Shares of Indian PSU lenders have made a strong recovery in recent sessions, reversing the weak performance seen in the first half of the current month. The win has sparked optimism that the central government will prioritise increasing capital expenditure to drive economic growth, especially as current spending lags behind FY2025 budget estimates. Reflecting this optimism, the Nifty PSU Bank …

PSU Bank Index Sees Big Drop
1 month, 3 weeks ago

PSU Bank Index Sees Big Drop

Deccan Chronicle  

MUMBAI: Several bank stocks came under pressure amid a broad market sell-off on Thursday pressured by bribery charges against industrialist Gautam Adani and other group executives by the United States Securities and Exchange Commission. Public sector bank stocks saw significant declines with some falling up to 7 per cent. The Nifty PSU index dropped nearly 5 per cent, weighed down …

Central Bank of India to Punjab & Sind Bank: Experts recommend these PSU bank shares to buy on OFS buzz
1 month, 3 weeks ago

Central Bank of India to Punjab & Sind Bank: Experts recommend these PSU bank shares to buy on OFS buzz

Live Mint  

Shares of PSU banks, Central Bank of India, Indian Overseas Bank, UCO Bank, and Punjab and Sind Bank, rallied more than 4% on Tuesday amid report of government considering selling minority stakes in these companies. Indian Overseas Bank share price jumped as much as 4.4%, while Central Bank of India shares, UCO Bank stock price and Punjab and Sind Bank …

IRFC, BHEL to PFC: PSU stocks surge up to 6% after revision in capital restructuring norms; what should you do?
1 month, 3 weeks ago

IRFC, BHEL to PFC: PSU stocks surge up to 6% after revision in capital restructuring norms; what should you do?

Live Mint  

PSU stocks: Several PSU stocks, including Indian Railway Finance Corporation, Bharat Heavy Electricals and Power Finance Corporation, witnessed healthy gains, jumping up to 6 per cent in morning trade on BSE on Tuesday, November 19, after the Union Finance Ministry revised norms for dividend payments, share buybacks and stock splits at state-run companies to improve capital management and bolster performance …

PSU banks are giving the best FD rates in eight years. Here's why
2 months, 1 week ago

PSU banks are giving the best FD rates in eight years. Here's why

Live Mint  

Mumbai: Under pressure from slow pace of deposit growth compared to loan offtake, India’s state-owned banks have pressed the pedal on attracting depositors even at the cost of a potential hit on their margins and profits. This September, the weighted average domestic term deposit rate for public sector banks touched 7%, a first since March 2017. According to Aniket Dani, …

PSU Bank Stocks: A Shining Spotlight for Diwali Investments
2 months, 2 weeks ago

PSU Bank Stocks: A Shining Spotlight for Diwali Investments

Live Mint  

PSU Bank stocks offer strong potential for Diwali investment. The Nifty PSU Bank Index has surged 17% this year, with the three stocks highlighted as potential candidates for adding to your Diwali portfolio. State Bank of India (SBIN), Bank of Baroda, and Indian Bank are key players to watch, with positive technical indicators and promising stock-specific opportunities. Bright outlook and …

Are PNB investors worried about QIP-led dilution?
3 months, 2 weeks ago

Are PNB investors worried about QIP-led dilution?

Live Mint  

With a capital adequacy ratio of 15.79% and common equity tier 1 at 10.95%, PNB does not need capital immediately. At the floor price, it could lead to a maximum equity dilution of about 4%, as the current number of equity shares is 11 billion. Private sector banks, by virtue of their higher return on assets, have always commanded higher …

Nifty Bank surges over 3% to mark biggest weekly gain in 2024; Bandhan Bank climbs 8%, IDFC Bank up 7%
6 months, 3 weeks ago

Nifty Bank surges over 3% to mark biggest weekly gain in 2024; Bandhan Bank climbs 8%, IDFC Bank up 7%

Live Mint  

The Indian market ended the shortened trading week with significant fluctuations as profit booking by investors caused major indices to close in negative territory. Global brokerage firm CLSA has shown a preference for private sector banks over their public sector counterparts, noting their currently reasonable valuations. Another global brokerage house, Macquarie, also advised investors to favor private sector banks while …

Top 10 things to know about the stock market today: RBI MPC, election results
7 months, 1 week ago

Top 10 things to know about the stock market today: RBI MPC, election results

Hindustan Times  

The Indian stock market shot up in trade today, aided by IT, consumer durables, and also bank stocks, after the Reserve Bank of India left interest rates unchanged. Markets recover from election result day The stock market has recouped all losses from the election result day, with the total market cap of all listed companies climbing to ₹421.47 lakh crore …

Share Market Today: Sensex, Nifty Hit All-Time Highs Ahead Of Lok Sabha Results. PSU Banks Jump 8%
7 months, 1 week ago

Share Market Today: Sensex, Nifty Hit All-Time Highs Ahead Of Lok Sabha Results. PSU Banks Jump 8%

ABP News  

Share market today: The two key equity benchmarks, Sensex and Nifty, hit record all-time high just one-day ahead of Lok Sabha elections counting since 2009. The last time the benchmarks posted their biggest single-day rally ahead of election results was in 2009, when Sensex and Nifty rose 2.46 per cent. Sectoral update Sectorwise, Nifty PSU Bank index jumped over 8 …

Record highs ahead of Lok Sabha Results 2024: Sensex soars 2,507 points, Nifty closes at 23,338
7 months, 1 week ago

Record highs ahead of Lok Sabha Results 2024: Sensex soars 2,507 points, Nifty closes at 23,338

India TV News  

The Indian stock market witnessed an unprecedented surge today, with the Sensex and Nifty hitting record all-time highs just one day before the counting of votes for the Lok Sabha elections. The 30-share BSE Sensex soared 2,507 points, or 3.4%, to close at 76,469, while the NSE Nifty50 climbed 733 points, or 3.25%, to settle at 23,264. Sectoral highlights PSU …

Banks should improve corporate loans, keep deposit base healthy
7 months, 3 weeks ago

Banks should improve corporate loans, keep deposit base healthy

New Indian Express  

For the first time ever, the cumulative net profits of Indian banks surpassed Rs 3 lakh crore in 2023-24, up from Rs 2.3 lakh crore in 2022-23. While the 26 private lenders’ net profits shot up 42 percent to Rs 1.78 lakh crore, the 12 public sector banks reported net profits of Rs 1.41 lakh crore in 2023-24, a 34 …

PSU stocks crash today: PFC, REC, IREDA, PNB, others decline up to 13%. Here's why
8 months, 1 week ago

PSU stocks crash today: PFC, REC, IREDA, PNB, others decline up to 13%. Here's why

Hindustan Times  

Shares of PSU stocks crashed today with some of them declining by as much as 13% after the Reserve Bank of India proposed stricter regulations on projects under implementation. PSU stocks crash today: The stock market index on a display screen at the Bombay Stock Exchange building in Mumbai. PSU stocks performance today Shares of power financing companies such as …

Share market today: Sensex, Nifty 50 end flat; broader markets along with PSU banks shine, realty drags
9 months, 1 week ago

Share market today: Sensex, Nifty 50 end flat; broader markets along with PSU banks shine, realty drags

Live Mint  

Share market today: Domestic equity benchmark indices, the Sensex and the Nifty 50, ended Wednesday's session on a flat note amid weak global cues. The 30-share BSE Sensex ended lower by 27.09 points or 0.04% at 73,876.82 level while the Nifty 50 closed at 22,434.65 level, down 18.65 points or 0.08%. Sectoral indices today Amongst sectoral indices, Nifty PSU Bank, …

FinMin revises letter, scotches PSU bank merger speculation
1 year ago

FinMin revises letter, scotches PSU bank merger speculation

Live Mint  

The Union finance ministry has rectified the agenda of a parliamentary committee meeting scheduled for early next year, putting an end to speculation of a potential merger of public sector banks—UCO Bank with Union Bank of India, and Bank of India with Bank of Maharashtra. In a letter addressed to, among others, the bank chiefs of the four PSU banks …

PNB market cap surpasses ₹1 lakh crore; third PSU bank to achieve feat
1 year, 1 month ago

PNB market cap surpasses ₹1 lakh crore; third PSU bank to achieve feat

Live Mint  

Within the universe of PSU banking stocks, Punjab National Bank has emerged as a standout performer, showcasing remarkable resilience and performance throughout the current year. This outstanding performance catapulted the bank's market capitalisation beyond the ₹one lakh crore milestone in today's trade, making it the third public sector bank to achieve this significant feat. The bank's pre-provision operating profit came …

Budget 2024: Why experts are bullish on PSU bank stocks after assembly polls?
1 year, 1 month ago

Budget 2024: Why experts are bullish on PSU bank stocks after assembly polls?

Live Mint  

Budget 2024: Cheering BJP's victory in state assembly elections, Indian stock market extended bull trend for yet another session on Monday. Stock market experts maintained that focus of the union government on profitability of PSU companies and state-owned banks is expected to remain in focus and teh incumbent government may walk some extra mile in upcoming union budget. Budget 2024 …

Market falls for 5th straight session; investors lose about ₹15 lakh crore
1 year, 2 months ago

Market falls for 5th straight session; investors lose about ₹15 lakh crore

Live Mint  

Nifty 50 today: Key equity indices Nifty 50 and the Sensex closed in the negative territory for the fifth consecutive session on Wednesday, October 25, amid mixed global cues as concerns over the ongoing Israel-Hamas war keep investors nervous about riskier equities while unimpressive Q2 earnings and gains in US Treasury yields also weighed on sentiment. Nifty 50 today closed …

Banks to see margin pressure amid hike in deposit rates: Jefferies
1 year, 3 months ago

Banks to see margin pressure amid hike in deposit rates: Jefferies

Live Mint  

With the rising interest rate environment, most Indian banks are likely to see some pressure on their net interest margins over the next two to three quarters. Since December 2021, most Indian banks have taken a 170-210 basis points hike in their term deposit rates, with larger private banks and State Bank of India taking hikes of around 170-210 bps, …

Has banking stocks topped out as Bank Nifty retraces 2% from life-time high?
1 year, 6 months ago

Has banking stocks topped out as Bank Nifty retraces 2% from life-time high?

Live Mint  

Bank Nifty index has been under profit-booking trigger after scaling to life-time high of 44,498.60 on 16th June 2023. On pivot levels to ascertain bullish or bearish trend in banking sector, Vashali Parekh, Vice President — Technical Research at Prabhudas Lilladher said, "For Bank Nifty index, the level of 43,000 remain as the strong support while 44,400 would be strong …

Nifty Bank down about a per cent in June; is the party over for bank stocks?
1 year, 6 months ago

Nifty Bank down about a per cent in June; is the party over for bank stocks?

Live Mint  

After clocking gains in the last three consecutive months, the Nifty Bank index has been under pressure in June so far. Above 44,100, the Bank Nifty spot could extend the rally towards 45,000 in the next month," said Rajani. Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas pointed out that Bank Nifty, during the past three months, has …

PSU Bank, IT, FMCG keep Sensex, Nifty in red; Tata Steel, Hero, SBI top laggards
1 year, 7 months ago

PSU Bank, IT, FMCG keep Sensex, Nifty in red; Tata Steel, Hero, SBI top laggards

Live Mint  

Indian shares remained firmly in the red in the second half on Friday as RBI hinted that inflation will remain its priority. PTC INDUSTRIES More Information Noon Update: Indices hover in the flat zone with PSU Bank, IT and FMCG indices dragging the market, while Pvt Bank shines View Full Image Sensex at Noon Angel One Ltd recommendations on IEX: …

Half of Nifty50 constituents trade below their historical average
1 year, 7 months ago

Half of Nifty50 constituents trade below their historical average

Live Mint  

The Indian benchmark equity index Nifty is trading at a valuation lower than its historical average, while many of the index heavyweights, including HDFC Bank, Axis Bank, SBI, Maruti Suzuki, Tata Steel and Mahindra & Mahindra, are also trading at a discount to their 10-year average valuations, as per a report by domestic brokerage house Motilal Oswal. The Nifty is …

Bank Nifty touches all life-time high. Which stocks should you buy today?
1 year, 8 months ago

Bank Nifty touches all life-time high. Which stocks should you buy today?

Live Mint  

Stock market today: On account of strong Q4 results by Bank Nifty majors like HDFC Bank, ICICI Bank, Kotak Mahindra Bank, AU Bank, Federal Bank, etc., Indian bulls finally managed to hit its all-time high of 44,151.70. On reasons for rally in Bank Nifty today, Ravi Singhal, CEO at GCL Broking said, "After strong fourth quarter results of major contributors …

PSU Bank stocks’ valuations attractive, Motilal Oswal names 3 top picks
1 year, 11 months ago

PSU Bank stocks’ valuations attractive, Motilal Oswal names 3 top picks

Live Mint  

Public sector banks have been consistent performers on the Street in last one year and if experts estimates are to go by, their earnings growth will sustain going ahead aided by improved loan growth, margins and controlled credit costs. PSU banks have progressed a lot in past 5 years with profitability of of top seven PSBs improving to an estimated …

Yes Bank share price jumps after sale of NPA to JC Flowers. Buy, sell or hold?
2 years ago

Yes Bank share price jumps after sale of NPA to JC Flowers. Buy, sell or hold?

Live Mint  

Yes Bank shares jump by over 4 per cent in early morning deals on Monday session. Yes Bank share price today opened with an upside gap and went on to hit intraday high of ₹22.10 apiece on NSE, logging around 4.25 per cent rise in stock market's opening bell today. According to stock market experts, Yes Bank shares are rising …

Bank Nifty hits 44,000 for first time. Here are the key triggers ahead
2 years, 1 month ago

Bank Nifty hits 44,000 for first time. Here are the key triggers ahead

Live Mint  

Indian stock markets rose today while banking stock index Bank Nifty hit record high, lifted by strong global equities after cooler-than-expected consumer price increase in the US. Bank Nifty hit the 44,000 level for the first time as financials continued their recent outperformance. Some analysts however remain cautious that gains in Indian markets could be capped in short to medium …

5 PSBs outperform markets, hit new 52-week highs. Do you own any of them?
2 years, 2 months ago

5 PSBs outperform markets, hit new 52-week highs. Do you own any of them?

Live Mint  

Indian markets extended their gains for a second consecutive day on Monday with Sensex and Nifty 50 crossing over the 61,100 and 18,200 marks respectively. During the second quarter, Indian Bank posted a 12% yoy growth in net profit to ₹1,225 crore, while net interest income soared by 15% yoy to ₹4,684 crore. In the second quarter of FY23, the …

Why investors are upbeat about PSU bank stocks
2 years, 3 months ago

Why investors are upbeat about PSU bank stocks

Live Mint  

Bank stocks are the flavour of the season. “Subdued bank credit growth observed in the last few years was mainly on account of weak demand, balance sheet deleveraging, shift to other funding sources and risk aversion by lenders," according to a report by ICICI Direct Research dated 20 September. View Full Image Getting ahead However, there has been a gradual …

Budget 2022 Market: Sensex Rises 848 pts on Budget Day; Nifty Settles at 17,577; Tata Steel, Sun Pharma Top Gainers
2 years, 11 months ago

Budget 2022 Market: Sensex Rises 848 pts on Budget Day; Nifty Settles at 17,577; Tata Steel, Sun Pharma Top Gainers

News 18  

The benchmark indices ended in the positive territory supported by the metal, IT, FMCG, and capital goods stocks. Sectorally, the Nifty PSU Bank index ended in the red, down 0.6 per cent, as the Budget document remained silent on PSB privatisation. On the upside, the Nifty Metal index zoomed nearly 5 per cent after the government announced Rs 7.5 trillion …

PSU banks mobilise record fund of ₹58,700 crore from markets in FY21
3 years, 5 months ago

PSU banks mobilise record fund of ₹58,700 crore from markets in FY21

Live Mint  

Notwithstanding economic disruptions caused by the pandemic, public sector banks have managed to raise a record ₹58,700 crore from markets in FY2020-21 through a mix of debt and equity to enhance capital base. Punjab National Bank mobilised ₹3,788 crore through share sale on private placement basis during the financial year ended March 31, 2021. In addition, 12 PSBs raised funds …

MARKET WRAP: Indices gain for 3rd day, Sensex up 86 pts; PSU banks rally
4 years, 4 months ago

MARKET WRAP: Indices gain for 3rd day, Sensex up 86 pts; PSU banks rally

Business Standard  

The benchmark indices ended in the positive territory for the third consecutive session on Wednesday, led by buying in Reliance Industries, HDFC Bank, ICICI Bank, and Bharti Airtel. In the broader market, the S&P BSE MidCap index ended at 14,741.42, up 0.6 per cent while the S&P BSE SmallCap index gained over 1 per cent to 14,318 levels. Buzzing stocks …

Sensex surges 548 points amid broad-based buying; Nifty ends above 10,900
4 years, 5 months ago

Sensex surges 548 points amid broad-based buying; Nifty ends above 10,900

Business Standard  

The Indian stock market ended 1.5 per cent higher on Friday, led by buying in Reliance Industries, HDFC Bank, ICICI Bank, and HUL. The S&P BSE Sensex settled 548 points or 1.5 per cent higher at 37,020 levels. Nifty PSU Bank index rose 1.83 per cent to 1,431.60 levels while the Nifty Bank ended 1.7 per cent higher at 21,967 …

Coronavirus Lockdown: Economy needs support from PSBs, says Union Bank chief Rajkiran Rai G
4 years, 7 months ago

Coronavirus Lockdown: Economy needs support from PSBs, says Union Bank chief Rajkiran Rai G

Firstpost  

The country’s economy, which has been hit by the COVID-19 outbreak, needs support from the public sector banks to boost credit growth, an official said on Friday Kolkata: The country’s economy, which has been hit by the COVID-19 outbreak, needs support from the public sector banks to boost credit growth, an official said on Friday. The number of PSBs has …

Sensex, Nifty 50 lose momentum; Sensex dips by 130 points, Nifty below 8700
4 years, 9 months ago

Sensex, Nifty 50 lose momentum; Sensex dips by 130 points, Nifty below 8700

Deccan Chronicle  

Mumbai: Equity benchmark indices dithered in volatile trade on Friday as the Reserve Bank of India reduced key repo rate by 75 basis points in line with central banks around the world to limit the economic slowdown amid rising coronavirus. The BSE S&P Sensex closed 131 points or 0.44 per cent lower at 29,816 but the Nifty 50 edged higher …

Govt likely to notify merger of 10 PSU banks this week; all lenders to complete amalgamation procedures by April
4 years, 11 months ago

Govt likely to notify merger of 10 PSU banks this week; all lenders to complete amalgamation procedures by April

Firstpost  

The banks will need to follow regulatory formalities to protect the interest of minority shareholders. The government is expected to notify the merger of 10 public sector banks that it had announced last year to create four big banks this week and the merger process may be completed by April, said a news report. Union Bank, Andhra Bank, Corporation Bank …

Gains in state-run banks help markets open at all-time highs
5 years ago

Gains in state-run banks help markets open at all-time highs

India Today  

Markets opened at record highs on Friday, driven by gains in state-run banks as investors cheered a central bank decision to conduct a special open market operation to bring down long-term yields. The NSE Nifty 50 Index rose 0.24 per cent to 12,288.60 by 0355 GMT, while the S&P BSE Sensex index gained 0.25 per cent to 41,781.50. The Nifty …

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