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
At least five local banks including and are in talks with Singapore’s DBS Bank to begin a real-time remittance system with the city-state using the ubiquitous Unified Payments Interface (UPI) as the backbone, said people familiar with the matter. This will become a common remittance platform in collaboration with Singapore’s PayNow funds transfer service and … Read more
Mumbai: Lenders to purified terephthalic acid (PTA) manufacturer JBF Petrochemicals have extended the deadline to submit financial bids for the company till the end of August, giving public sector companies more time to get approvals and make a bid for the company. The original deadline was August 20. Public sector companies and an ONGC-Indian Oil … Read more
The Centre may sell its stake in Central Bank of India and Indian Overseas Bank () as part of its mega privatisation initiative unveiled in the Union Budget in February. While the two banks have been recommended for disinvestment by government think tank NITI Aayog, (BoI) may be a potential candidate for sale, sources familiar … Read more
The government did infuse almost Rs 2.7 lakh crore between fiscal 2017-2020 but the pandemic might force the government to infuse more capital to keep public lenders healthy. Public sector lenders need to raise as much as Rs 2.1 lakh crore in external capital over the next two years to tackle the capital shortages that … Read more
The bank had bounced back to black in the last quarter (Q4 of FY’20) after being in the red for almost 18 quarters. Chennai-headquartered public sector lender Indian Overseas Bank (IOB) on Thursday reported a net profit of Rs 121 crore for the first quarter of FY21. It had reported a net loss of Rs … Read more
IOB stock closed at Rs 11.43 on BSE, up 3.63 per cent from previous close. Indian Overseas Bank on Thursday posted a net profit of Rs 121 crore for June quarter 2020 mainly due to fall in bad loans. The state-owned lender posted a net loss of Rs 342.08 crore for the same quarter a … Read more