Indian Bank leads gainers in 'A' group

TV18 Broadcast, Canara Bank, Central Bank of India and Bank of Baroda are among the other gainers.

Shares of PSU banks were in demand in today's trade as a committee appointed by the Reserve Bank of India (RBI) proposed on Tuesday, 13 May 2014, that the government should cut its stakes in state banks to below 50% and establish "fully empowered" bank boards.

State-run Indian Bank jumped 11.73% to Rs 139.05. The stock topped the gainers in the BSE's 'A' group.

State-run Canara Bank spurted 10.68% to Rs 333.80. The stock was third biggest gainer in 'A' group.

State-run Central Bank of India climbed 10.37% to Rs 61.20. The stock was fourth biggest gainer in 'A' group.

State-run Bank of Baroda rose 9.22% to Rs 958.85, with the stock extending Tuesday's gains triggered by good Q4 results. The stock 52-week high of Rs 976 in intraday trade. The bank's net profit rose 12.48% to Rs 1157.27 crore on 13.17% rise in total income to Rs 11614.85 crore in Q4 March 2014 over Q4 March 2013. The result was announced during market hours on Tuesday, 13 April 2014. The stock was fifth biggest gainer in 'A' group.

Media firm TV18 Broadcast galloped 11.05% to Rs 28.15. The stock was second biggest gainer in 'A' group.

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