Read more about Govt s move to inject Rs 14,500 cr in 4 PSBs won t raise tangible equity on Business Standard. According to Ind-Ra, these securities would be factored at par value rather than at the discounted value in the banks balance sheet.
Nifty PSU Bank index closed down 4.10% at 2123.85 today. The index has slipped 9.00% over last one month. Among the constituents, Canara Bank dropped 6.14%, Central Bank of India slipped 4.68% and State Bank of India fell 4.61%.
The Nifty PSU Bank index has soared 72.00% over last one year compared to the 81.08% increase in benchmark Nifty 50 index. In other indices, Nifty Bank index has dropped 3.48% and Nifty Private Bank index is down 3.45% on the day. In broad markets, the Nifty 50 is down 1.54% to close at 14637.8 while the SENSEX has slid 1.74% to close at 49159.32 today.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
PSU banks go slow on asset sales, await privatisation list
Top Searches
PSU banks go slow on asset sales, await privatisation list
Mayur Shetty / TNN / Updated: Apr 3, 2021, 16:43 IST
FacebookTwitterLinkedinEMail
MUMBAI: Public sector banks that were not part of the consolidation process are going slow on their plans to monetise assets as part of their capital-raising efforts. These banks have decided to wait and see whether they are candidates for the government’s privatisation plan before initiating any stake sale.
The thinking is that private investors might see more value in a bank that has other businesses that can be grown. Last week, Central Bank of India allowed a deal to sell its housing finance arm Cent Bank Home Finance to fall through by not going ahead with the transaction before the long-stop date of March 31, 2021.
Exclusive content, features, opinions and comment - hand-picked by our editors, just for you.
Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
Track the industry of your choice with a daily newsletter specific to that industry.
Stay on top of your investments. Track stock prices in your portfolio.
NOTE :
The monthly duration product is an auto renewal based product. Once subscribed, subject to your card issuer s permission we will charge your card/ payment instrument each month automatically and renew your subscription.
In the Annual duration product we offer both an auto renewal based product and a non auto renewal based product.
: Thursday, April 1, 2021, 5:37 PM IST
Indian Overseas Bank, Central Bank of India, UCO Bank, and Bank of India shares jump after capital infusion
Shares of four public sector banks Indian Overseas Bank, Central Bank of India, UCO Bank, and Bank of India on Thursday closed with up to 6.25 per cent gains after the government infused Rs 14,500 crore to improve their financial health.
Indian Overseas Bank closed 6.25 per cent higher, Central Bank of India gained 4.89 per cent, UCO Bank 3.91 per cent and Bank of India 2.95 per cent on the BSE.
These stocks had jumped up to 10 per cent during the morning trade.