MUMBAI – Private banks, which have always been the favourites of institutional investors, lost the spot to public sector banks who are touching the sky riding on retail bulls. So far in 2024, all public sector banks have given double-digit returns to investors. On the contrary, private sector banks have seen single to double-digit fall … Read more
State-owned Indian Overseas Bank‘s (IOB) market capitalization crossed the Rs 1 lakh crore mark for the first time following a 100% rally in the stock over the last six months. In Friday’s trade, the stock rose over 6.5% to hit a 52-week high at Rs 55.5, backed by heavy volumes on the NSE. A total … 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
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
NEW DELHI: Nifty lost nearly half a per cent to close in the red zone for the third consecutive week as FIIs chose to take some profits off the table. PSU banks, pharma and IT stocks gained while realty and banking stocks struggled. We have collated a list of three stocks that either hit a … Read more
PSU stocks have delivered healthy returns to investors in the last one month, rallying up to 56% with railway stocks leading the charts. The Nifty PSU index is up about 10% during the month, compared with 3% gains in benchmarks Sensex and Nifty. As many as 28 PSU stocks have offered double digit monthly returns … Read more
After declining over 10% in the last trading session amid fear related to the Fed rate hike and rising covid cases in China, PSU bank stocks rebounded, gaining up to 13% in Monday’s intraday trade. Shares of () were the top gainers in today’s trade as the stock surged 13% to Rs 29.75 apiece. Meanwhile, … Read more
Nifty futures on the Singapore Exchange traded 86.5 points, or 0.48 per cent higher at 18,289.5, signaling that Dalal Street was headed for a positive start on Monday. Here are a dozen stocks which may buzz the most in today’s trade: Coal India, Divis Labs, BPCL: Coal India, Divi’s Laboratories, Bharat Petroleum, One97 Communication, , … Read more