FPIs, mutual funds hike stake in PSU banks in Q1

FPIs and MFs increased their holdings in SBI, PNB, BoB, Canara Bank and Andhra Bank, data show

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