Tag Archives: PSU

Support for Nifty at 10,777; PSU banks, media stocks to remain under pressure

Chandan Taparia Nifty index had a volatile Budget day but overall witnessed strong recovery of 400 points from recent swing low of 10,583 to 10,983 zones in last four sessions. It corrected from higher zones in the last week but again managed to attempt the same key hurdle area. It formed a Bullish candle on weekly while a High Wave ... Read More »

Government Permits 12 PSU Banks To Raise Rs. 3,000 Crore From Market

New Delhi: In a bid to strengthen capital base of public sector banks (PSBs), the government has allowed 12 lenders to raise nearly Rs. 3,000 crore via preferential shares over and above the Rs. 22,915 crore capital support committed to them in July last year. The Finance Ministry granted approval to 12 proposals of PSBs to raise a sum of ... Read More »

Government Planning Hike in FDI for PSU Banks: Report

New Delhi: The government is planning to increase the foreign investment limit in public sector banks to 49 per cent from 20 per cent with a view to attract overseas inflows. The Finance Ministry is looking into the proposal, sources said adding it may be announced in the forthcoming Budget 2016-17. If the government accepts this proposal, it would lead ... Read More »

PSU Banks Book Highest Ever Loss as Bad Loans Mount

New Delhi: Hit hard by mounting non-performing assets (NPAs) or bad loans, many leading public sector banks, including Bank of Baroda, Bank of India and IDBI Bank, reported their highest ever quarterly losses aggregating to over Rs. 12,000 crore, while others like State Bank of India (SBI) and Punjab National Bank (PNB) witnessed sharp erosion in profits. Bank of Baroda ... Read More »