 "PSU banks in focus; Bank of India, Bank of Baroda surge 5%")
Banking shares mainly public sector undertakings (PSU) have moved higher by up to 5% on the bourses after the Economic Survey 2014-15 tabled in the parliament today forecasted FY16 GDP growth between 8.1% and 8.5%.
Bank of India, Bank of Baroda and Union Bank of India have rallied 5% each, while Canara Bank, Indian Overseas Bank, Oriental Bank of Commerce, Allahabad Bank and IDBI Bank surged 4% each on the National Stock Exchange (NSE).
State Bank of India, Punjab National Bank, Syndicate Bank and Andhra Bank were up 3-4%.
At 1227 hours, CNX PSU Bank index was up 3% compared to 1% rise in benchmark CNX Nifty.
The survey, tabled in Parliament today, saw FY15 GDP growth seen at 7.4%. It estimated the CAD at 1.3% of GDP in FY15. CLICK HERE FOR FULL REPORT.
Bank of India, Bank of Baroda and Union Bank of India have rallied 5% each, while Canara Bank, Indian Overseas Bank, Oriental Bank of Commerce, Allahabad Bank and IDBI Bank surged 4% each on the National Stock Exchange (NSE).
State Bank of India, Punjab National Bank, Syndicate Bank and Andhra Bank were up 3-4%.
At 1227 hours, CNX PSU Bank index was up 3% compared to 1% rise in benchmark CNX Nifty.
The survey, tabled in Parliament today, saw FY15 GDP growth seen at 7.4%. It estimated the CAD at 1.3% of GDP in FY15. CLICK HERE FOR FULL REPORT.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%