State-owned banks rise on relative valuations versus private peers

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Reuters
Last Updated : Sep 13 2013 | 1:25 PM IST

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)

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First Published: Sep 13 2013 | 1:13 PM IST

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