Select PSU banks gain on recap hopes; Central Bank of India up 6%

Bank of Maharashtra, Central Bank of India, United Bank of India, Uco Bank, Corporation Bank, and Dena Bank were up 2% to 7% on NSE.

Shares of select public sector undertaking (PSU) banks were trading higher by up to 7% on the BSE on hopes of central government’s bank recapitalisation announcement.

Bank of Maharashtra, Central Bank of India, United Bank of India, Uco Bank, Corporation Bank and Dena Bank were up in the range of 2% to 7% on the National Stock Exchange (NSE).

At 10:53 am; Nifty PSU Bank index was up 0.54% at 3,079 points, as compared to 0.96% rise in the Nifty 50 index.

The central government would release Rs 286.15 billion before the end of this month towards