PSU bank scrips fall on Govt's recapitalisation announcement
25 Jan 2018 10:44 PM IST
New Delhi: PSU bank stocks fell up to 6 per cent a day after the government said it will infuse Rs 88,139 crore capital in 20 public sector banks (PSBs) before March 31.
Shares of Syndicate Bank tanked 5.82 per cent, Punjab National Bank 5.73 per cent, Bank of Baroda 4.80 per cent, SBI 4.32 per cent and Oriental Bank of Commerce shed 4.28 per cent on BSE. On similar lines, Allahabad Bank fell 3.21 per cent, Bank of India 2.43 per cent and United Bank of India lost 0.27 per cent. Meanwhile, IDBI Bank shares rose 1.07 per cent on being allocated the highest capital infusion amount among PSBs. The government on Wednesday said it will infuse an unprecedented Rs 88,139 crore capital in 20 public sector banks (PSBs) before March 31 to boost lending and revive growth.
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