Page 7 - Psu Banks

Despite over 20% rally from June lows, analysts bullish on broader markets

With the recent rally, the Nifty Midcap 100 now trades at an 18-per cent premium to large-caps at 23.2x

BoB issues Rs 2,500 crore AT-1 bonds at 7.88%, cheaper than peers

Four PSU banks have raised Rs 7,800 crore AT-1 bonds so far in FY23 as credit demand booms

Despite 22% jump in 3 months, analysts see more upside in Nifty PSB index

Among individual shares, Bank of Baroda, Canara Bank, State Bank of India, Indian Bank, and Union Bank of India soared between 21 per cent and 34 per cent during the period

SBI Q1 review: Analysts cut earnings estimate to factor MTM loss, weak NIM

SBI Q1: The country's biggest state-owned lender reported a net profit of around Rs 6,070 crore (down 7 per cent year-on-year) with the miss being driven by 13 bps sequential decline in NIM

Top Headlines: Monsoon Session starts today; rupee's worst may soon be over

The Monsoon Session of Parliament will start on Monday and will see the election of a new President of India

Stocks to Watch Today: Adani Power, Biocon, Tata Steel, NTPC, PSU Banks

Stocks to Watch Today: Among airline shares, SpiceJet has reported seven aircraft related incidents in the last two months; while IndiGo said has hired over 1,500 cabin crew staff to counter likely at

Punjab National Bank tanks 10%, hits 52-week low on weak Q4 results

In Q4FY22, the bank's standalone net profit dropped 66 per cent YoY to Rs 201 crore as the bank set aside Rs Rs 325 crore on account of a fraud.

Bank credit growth seen in double digits in Q4; flat NIMs likely: Analysts

Q4 preview: Analysts believe earnings momentum is likely to gather pace, with healthy loan growth, stable margins, and improving asset quality trends

Top headlines: JioMart Express pilot to start, the oil price conundrum

Business Standard brings you the top headlines at this hour

Public sector banks up loan growth target as corporate demand sees revival

Large public sector banks (PSBs) have revised upwards their credit growth target for the current financial year

Canara Bank's healthy Q3 result sparks rally in PSB; index jumps 3%

In Q3FY22, Canara Bank's asset quality improved with its gross non-performing assets (GNPA) ratio reducing to 7.80 per cent, down from 8.42 per cent as at September 2021.

SBI can rally to a new high, charts show; Canara Bank, J&K have 8% upside

The Nifty PSU Bank index needs to cross 2,850 to indicate further strength

Govt unlikely to announce capital infusion for PSU banks in Budget 2022-23

To augment their resources, banks would be encouraged to raise funds from the market and also by selling their non-core assets, they added.

Stocks to Watch:Wipro, Godrej Prop, Hero Moto, Vakrangee, JSW Energy, Paytm

Tarsons Product will make its debut on the bourses today, the issue price was fixed at Rs 662 per share

Sensex sheds 323pts, Nifty manages to hold 17,400; Infosys, ITC slip 2%

Smallcaps, sugar stocks and shares of recently listed companies like Paytm, SJS Enterprises, Fino Payments Bank and PolicyBazaar were in demand

PSU banks likely to get capital support in Q4 to meet regulatory needs

The government is likely to pump capital in public sector banks during the last quarter of the current financial year to meet the regulatory requirements

Nifty top 18,000 pts a day after IMF's bullish economic forecasts for India

The Nifty50 closed at 18,162, up 170 points, or nearly 1%, extending its year-to-date gains to 30%

State-owned Canara Bank cuts MCLR by up to 15 bps

Meanwhile, DCB Bank also reduced its MCLR by 0.05 per cent across tenors, effective from October 6.

Govt may defer privatisation plans for 2 PSU banks to FY23: Report

The Finance Ministry hasn't finalized modalities to seek approval from lawmakers for the sale, which leaves little time for process to be completed this year, people said, asking not to be named

Finance ministry puts on hold examination for clerical cadre in PSU banks

The Finance Ministry directed the Institute of Banking Personnel Selection to put on hold examination for clerical cadre in PSBs till a final view is taken on conducting tests in regional languages.