State-run banks rally on stabilising assets, valuations

Reuters Market Eye - Shares of state-owned banks rally on hopes of stabilising asset quality and on valuations seen as attractive, say analysts.

Bank of India Ltd shares surge 21.5 percent after its July-September net non-performing loans ratio fell to 1.85 percent at quarter-end versus 2.04 percent a year earlier.

Among other banks, Bank of Baroda Ltd jumps 10.6 percent, Punjab National Bank Ltd gains 8.9 percent, while State Bank of India is up 4.4 percent.

(Reporting by Abhishek Vishnoi)