Page 5 - Psu Bank Stocks
PSU banks gain as Cabinet clears amendments to bankruptcy code
The Nifty PSU Bank index, the second largest gainer among sectoral indices, ended 1% higher at 4,045
 "PSU banks gain as Cabinet clears amendments to bankruptcy code")
Banking stocks take a hit on provisioning worries
The Reserve Bank of India's (RBI) mandate instructing banks to make higher provisions for accounts referred to National Company Law Tribunal (NCLT) for resolution under Insolvency and Bankruptcy Code (IBC) came as a jolt for banking stocks on Tuesday. While the overall trading condition was also weak, the news was particularly negative for public sector banks (PSBs). Syndicate bank, Punjab National Bank, Canara Bank and Andhra Bank took 4 - 5 per cent hit in their stock prices, while that of State Bank of India, Bank of Baroda, and Union Bank corrected by 2.8 - 3.7 per cent on Tuesday. Even private banks with relatively high corporate exposure such as ICICI Bank and Axis Bank saw their share price fall 1.2 per cent and 2.3 per cent, respectively. As per RBI's latest directive, banks have to provide 50 per cent for secured loans and 100 per cent for unsecured loans referred to NCLT, clearly suggesting that provisioning towards bad loans may remain elevated for corporate banks and PSBs .
 "Banking stocks take a hit on provisioning worries")
Bank stocks gain up to 7.7% on RBI's NPA resolution move
Banking sector is saddled with NPAs of over Rs 8 lakh crore, of which Rs 6 lakh crore is with PSBs
 "Bank stocks gain up to 7.7% on RBI's NPA resolution move")
PSU bank stocks bleed on NPA worries
PSB stocks have witnessed exuberance since the issuing of an ordinance to clear bad loans
 "PSU bank stocks bleed on NPA worries")