PSBs jump on privatisation buzz; Bank of Maharashtra, IOB hit upper circuit

In February so far (till Monday), the Nifty PSU Bank index has rallied 16.4 per cent as compared to a 7.2 per cent gain in the benchmark Nifty50

Shares of public sector banks (PSBs) were in focus at the bourses on Tuesday amid report that the government has shortlisted four mid-sized state-run banks for privatisation. The four banks on the shortlist are Bank of Maharashtra , Bank of India, Indian Overseas Bank and the Central Bank of India, Reuters quoted two officials in a report.

At 09:40 AM, the Nifty PSU Bank index was up 3.34 per cent as compared to 0.6 per cent gain in the Nifty50 index. In February so far (till Monday), the Nifty PSU Bank index has rallied 16.4 per cent as compared to a