PSU banks go slow on asset sales, await privatisation list
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PSU banks go slow on asset sales, await privatisation list
Mayur Shetty / TNN / Updated: Apr 3, 2021, 16:43 IST
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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.
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: 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.
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Indian Overseas Bank, Bank Of India, Central Bank, UCO Bank shares rise after govt infuses Rs 14,500 cr
Indian Overseas Bank share was stuck in the upper circuit of Rs 16.75 rising 5% on BSE. The stock has risen 5.97% in two days
BusinessToday.In | April 1, 2021 | Updated 13:19 IST
Bank Of India share touched an intraday high of Rs 72.3, rising 6.56% on BSE. The share stands higher than 50 day, 100 day and 200 day moving averages but lower than 5 day and 20 day moving averages.
Shares of public sector lenders Indian Overseas Bank, Bank Of India, Central Bank of India and UCO Bank rose up to 6.5% in trade today after the government infused a Rs 14,500 crore in the four banks.
4 PSU bank stocks rally up to 10%, here s why
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Last Updated: Apr 01, 2021, 10:25 AM IST
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NEW DELHI: Shares of four PSU banks jumped up to 10 per cent after the government infused Rs 14,500 crore capital in them in a bid to improve their financial health.
Indian Overseas Bank,
Indian Overseas Bank surged 10 per cent to hit a high of Rs 17.60.
Bank of India climbed 6.55 per cent to Rs 72.30. Central Bank of India advanced 4.89 per cent to Rs 17.15. UCO Bank gained 4.64 per cent to Rs 11.50.
According to a government notification, Rs 4,800 crore has been provided to Central Bank of India, Rs 4,100 crore to Indian Overseas Bank, and Rs 2,600 crore to UCO Bank.