Select PSBs gain on capital infusion by government

Bank of India, IDBI Bank, Central Bank, Uco Bank, Dena Bank and Bank of Maharashtra were trading higher by up to 6% in early morning trade

Shares of select public sector banks (PSBs) like Bank of India, IDBI Bank, Central Bank of India, Uco Bank, Dena Bank and Bank of Maharashtra were trading higher by up to 6% in early morning trade after the government has pumped in a combined capital of Rs 7,577 crore in these banks.

At 09:30 am, Nifty PSU Bank index was up 0.44% as compared to 0.11% decline in Nifty 50 index and 0.02% fall in Nifty Private Bank index.

State-owned Bank of India said it has received a capital infusion worth Rs 2,257 crore, which was recently