Business Standard

State-run banks gain on hopes of govt measures

Image

Reuters

Reuters Market Eye - State-run banks gain on continued speculation the government would consider selling some of its holdings and inject capital.

Domestic newswire Cogencis reported on Monday India was "seriously working" on a plan to transfer its equity in public sector banks to a holding company, citing an unnamed government official.

State Bank of India gains 3.3 percent, Canara Bank surges 5.8 percent, while Bank of India rises 3.7 percent.

(Reporting by Abhishek Vishnoi)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jun 02 2014 | 1:19 PM IST

Explore News