State-owned banks rise on relative valuations versus private peers

Reuters Market Eye - Shares in state-owned banks rise on attractive valuations compared to their private sector peers, dealers say.

"Private banks are quoting at almost twice the valuation of state-owned banks," an institutional dealer said.

State Bank of India gains 1.1 percent while Bank of Baroda is up 2.8 percent.

Among midcap state-owned banks, Union Bank of India gains 4 percent while Oriental Bank of Commerce is up 3.8 percent.

(Reporting by Abhishek Vishnoi)