Shares of public sector underrating (PSU) banks are in demand, trading higher by up to 8% on hopes of interim dividend.
Syndicate Bank, Allahabad Bank, Bank of India and Union Bank of India are up over 5% each, while IDBI, Canara Bank, Andhra Bank, Indian Overseas Bank and Bank of Baroda trading higher in the range of 3-5% on the National Stock Exchange (NSE).
State Bank of India, Punjab National Bank and Oriental Bank Commerce too, up between 1-2% at 1420 hours.
The NSE state-owned bank index, CNX PSU Bank, the largest gainer among sector indices, up 2% against 0.34% rise in benchmark CNX Nifty and 0.48% gain in Bank Nifty.
Allahabad Bank has surged 8% to Rs 101 after the bank said its board of directors will meet on January 11, 2014, to consider declaration of interim dividend on the paid up equity capital of the bank.
Syndicate Bank too, soared 8% to Rs 100 on the NSE. The board of directors of the bank are schedule to meet tomorrow (January 9) for considering payment of interim dividend for the year 2013-14.
Syndicate Bank, Allahabad Bank, Bank of India and Union Bank of India are up over 5% each, while IDBI, Canara Bank, Andhra Bank, Indian Overseas Bank and Bank of Baroda trading higher in the range of 3-5% on the National Stock Exchange (NSE).
State Bank of India, Punjab National Bank and Oriental Bank Commerce too, up between 1-2% at 1420 hours.
The NSE state-owned bank index, CNX PSU Bank, the largest gainer among sector indices, up 2% against 0.34% rise in benchmark CNX Nifty and 0.48% gain in Bank Nifty.
Allahabad Bank has surged 8% to Rs 101 after the bank said its board of directors will meet on January 11, 2014, to consider declaration of interim dividend on the paid up equity capital of the bank.
Syndicate Bank too, soared 8% to Rs 100 on the NSE. The board of directors of the bank are schedule to meet tomorrow (January 9) for considering payment of interim dividend for the year 2013-14.
