The Centre has recently started a port for pensioners in collaboration with Bank of India. The Integrated Pensioners’ Portal of Bank of India combines the pension processing and payment services of five banks into a single window. In a statement, the Department of Pension and Pensioners’ Welfare (DoPPW) said the platform has been launched to … Read more
Shares of the state-owned Indian Renewable Energy Development Agency (IREDA) climbed 5% to Rs 125.5 in Wednesday’s trade on BSE after the firm announced a partnership with Indian Overseas Bank (IOB) to co-finance renewable energy projects in India. “Indian Renewable Energy Development Agency and Indian Overseas Bank have joined hands by signing a memorandum of … Read more
Bank of India received an overwhelming response for its qualified institutional placement of shares, which was subscribed 4.11 times. The QIP included a base size of Rs 2,250 crore, with a greenshoe option of another Rs 2,250 crore in case of an oversubscription. The lender received a total 104 bids aggregating up to Rs 18,483 … Read more
New Delhi: The government is considering the divestment of 5-10% stake in public sector lenders in which it currently holds over 80% equity. A detailed roadmap is expected to be firmed up soon, said people with knowledge of the matter. Government ownership exceeds 80% in six state-run banks – Bank of India, Indian Overseas Bank, … Read more
91.60 percent gain propelled the state-owned lender to the eighth place in the top 20 Indian banks by market capitalization as of September 30, from rank 14 three months ago. Five other public sector banks rose in the market cap rankings over the previous quarter. Central Bank of India‘s market cap grew 76.59 per cent … Read more
State-run Indian Overseas Bank (IOB) shares shot up nearly 14% on Monday to their 52-week high of Rs 45.15 amid a strong rally in public sector banks. Nifty PSU Bank was the top-performing index in an otherwise dull session. IOB was followed by UCO Bank, which was up nearly 7% around 10 am. It hit … Read more
Bank of India Ltd, part of the PSU banking space, has rallied more than 20% in a month and the chart structure suggests that the rally may not be over yet. Medium to long-term investors can look to buy the stock now as it could well double from current levels in the next 1-2 years, … Read more
Indian equities, ahead of the crucial RBI policy outcome on Thursday, ended on a positive note. The Nifty settled at 19,633, up 62 points, while the Sensex added 149 points, settling at 65,996. Sectorally, the trend was mixed with metal and media emerging as top gainers, while realty was the laggard. Here’s how analysts interpret … Read more
Indian market is likely to edge higher on Wednesday tracking positive global cues. The S&P BSE Sensex fell more than 100 points while the Nifty50 closed above 19,550 levels on Tuesday. India VIX was up by 2.03% from 11.10 to 11.32 levels in the previous session. Volatility inched higher and caused some discomfort to the … Read more
State-owned Bank of India on Friday reported a 176% jump in net profit for the June quarter at Rs 1,551 crore as compared with Rs 561 crore in the year ago period, backed by both core and non-core business growth, and a fall in bad loan provisions. The bank’s net interest margin for the quarter … Read more