Page 12 - Psu Banks

FPIs, mutual funds hike stake in PSU banks in Q1

Foreign portfolio investors (FPIs) and domestic mutual funds (MFs) have increased their stake in public sector banks (PSBs) in the April - June quarter (Q1FY18), on the expectation that there will be a resolution to the non-performing assets (NPAs) issue.Data sourced from Capitaline Plus shows that FPIs and MFs have increased their holdings in State Bank of India (SBI), Punjab National Bank (PNB), Bank of Baroda (BoB), Canara Bank and Andhra Bank.Of the 20 PSU banks that have thus far filed their June quarter shareholding pattern, FIIs have raised their holdings in 15 banks, and trimmed their stake in five - Allahabad Bank, Bank of India (BoI), Dena Bank, IDBI Bank and Oriental Bank of Commerce (OBC) by less than one percentage point. On the other hand, in the 15 banks where MFs held stake, they have hiked stake in 10 and cut stake in five banks.In State Bank of India (SBI), FPIs and MFs stake increased by two percentage points and one percentage point respectively, after the bank ...

Tap equity market: Govt tells 5 PSU banks

Each of these PSBs looking to raise Rs 1,000-6,000 crore

Loan waivers, NPA issues: Stay away from PSU banks for now, say analysts

Analysts advise investors to stay away from the sector despite attractive valuations in some cases

Mutual funds go shopping; hike stake in PSBs in March quarter

Domestic mutual funds (MFs) have raised their stake in public sector banks (PSBs) in January - March 2017 quarter. In the first three months of calendar year 2017 (CY17), they have collectively put in Rs 11,469 crore in the Indian equity market, data show.The flow continued in April as well, with the MFs putting in Rs 9,917 crore compared to Rs 4,196 crore in the previous month. In past seven months, between October 2016 and April 2017, mutual funds have pumped in Rs 53,469 crore in equities. By comparison, they had invested Rs 16,527 crore in the previous corresponding period.Of the 16 PSBs where mutual funds hold stake, their holding in 13 banks increased by up to three percentage points in the March quarter. In eight banks, including State Bank of India (SBI), Canara Bank, Oriental Bank of Commerce (OBC), Vijaya Bank, Corporation Bank and Bank of India (BoI), MFs have increased their holdings for the second straight quarter in a row, data show.Analysts attribute the stake hike in ..

New measures positive for PSU bank stocks

On a day when the government announced the long-awaited measures to resolve the huge bad loans menace of Indian banking sector, stocks of most public sector banks declined between 1 to 5 per cent; stocks of a few corporate facing private banks also fell. Part of this weakness can be attributed to the strong surge witnessed by these stocks in recent times in anticipation of concrete measures to solve the bad loans issue. Lack of clarity around further action by the Reserve Bank of India (RBI) as well as quantum of hair cuts required to be taken by the banks while selling or liquidating the bad loans were other factors that pulled down the banking stocks in Friday's session.Nevertheless, it is a step in the right direction. As bankers were sceptical to take any decisions, the new measures pass the baton to RBI, which will now have more powers and is expected to deal with the bad loans issues firmly. Mahesh Patil, co chief investment officer (equities), Birla Sunlife Asset Management, ...

Financing a recovery

It needs a deeper bond market, not a subsidised bank

2 held for conning people by creating fake SBI site to sell credit cards

Two of the accused, Sahil Verma and Monu, were arrested from Gurugram yesterday

Govt may shuffle heads of some PSU banks, including IDBI banks

Union Cabinet's Appointments Committee, headed by PM Modi, will take the final decision

Govt approves second tranche of capital infusion in PSU banks

Announced fund infusion of Rs 22,915 cr out of Rs 25,000 cr marked for 13 PSBs for current fiscal

Govt to infuse Rs 1,894 cr capital into SBI

Government had provided Rs 22,915 crore capital to 13 PSU banks including SBI, PNB and IOB

PSU Banks gain; Nifty PSU Bank index up nearly 2%

SBI, Oriental Bank, Allahabad Bank, Union Bank, PNB, BOI, Vijaya Bank and BOB were up 1% to 4% on the NSE.

PSU banks recover from day's low; Nifty PSU bank index up 1%

SBI, BOB, Vijaya Bank, BOI, Corporation Bank, Uco Bank and Union Bank recovered more than 2% each from intra-day lows

PSUs to manage stressed assets of banks: Jaitley

Gross NPA of PSBs has surged from 5.43% in 2014-15 to 9.32% in 2015-16

Is the worst over for PSU banks?

The reason analysts are not comfortable to call the bottom in PSU banks is because of the opacity of the data

PSU banks gain; Oriental Bank, Canara Bank up 5%

Nifty PSU Bank index was up 2.7% as compared to 0.18% gain in Nifty 50 and 0.60% rise Nifty Bank index at 03:14 pm.

Finance Ministry revises criteria for recapitalisation of PSU banks

The government in July had announced the first round of capital infusion of Rs 22,915 crore for 13 banks

SBI, HDFC Bank, Kotak Bank hit 52-week high

Given the run-up, analysts advise investors to remain cautious and adopt a stock-specific approach while investing

Is the worst behind for state-owned banks?

Some brokerages upgrade targets for SBI, PNB, BOB, among others, after run-up in their stock prices

PSU banks gain post RBI policy

SBI, BOI, Union Bank, Allahabad Bank, BOB, Syndicate Bank, PNB and Oriental Bank were up 2% each at 11.41 am.

Submit plans for fund raising: Govt to PSU banks

Under Indradhanush roadmap announced by the ministry last year, the government will infuse Rs 70,000 crore in PSBs over 4 years