Psu Bank Recapitalisation
Sensex sheds 323pts, Nifty manages to hold 17,400; Infosys, ITC slip 2%
Smallcaps, sugar stocks and shares of recently listed companies like Paytm, SJS Enterprises, Fino Payments Bank and PolicyBazaar were in demand
 "Sensex sheds 323pts, Nifty manages to hold 17,400; Infosys, ITC slip 2%")
Best of BS Opinion: Hope fades for PSBs, a future without promoters & more
Here are the best of Business Standard's opinion pieces for Wednesday
 "Best of BS Opinion: Hope fades for PSBs, a future without promoters & more")
Hope fades for PSBs
Govt cannot keep infusing capital perpetually
 "Hope fades for PSBs")
CAG writes to RBI on banks' status post-recap over the past 5 years
Wants RBI to give performance details over the past five years
 "CAG writes to RBI on banks' status post-recap over the past 5 years")
PSBs would need another Rs 50,000 crore fund infusion in FY20: SBI report
This one year window has afforded an opportunity to PSBs by an estimated relief of around Rs 35,000-38,000 crore
 "PSBs would need another Rs 50,000 crore fund infusion in FY20: SBI report")
Recap plan: Govt to infuse over Rs 880 bn into 20 PSBs but with riders
IDBI Bank getting the most at Rs 106 bn, SBI to get Rs 88 bn, Rs 92.32 bn for Bank of India; loans above Rs 2.5 bn will undergo special monitoring
 "Recap plan: Govt to infuse over Rs 880 bn into 20 PSBs but with riders")
Recapitalisation bonds for reviving PSU banks won't have same tenure
During the present recapitalisation exercise, the bonds will have non-SLR status and will be non-tradable
 "Recapitalisation bonds for reviving PSU banks won't have same tenure")
Setting realistic performance targets key to PSU bank recapitalisation
Targets set during the previous recapitalisation plan were too high, and banks weren't able to achieve them
 "Setting realistic performance targets key to PSU bank recapitalisation")
PSB rally has more legs; re-rating, more upside likely, say analysts
The analysts see more value in larger PSU banks as the risk of equity dilution lies more in small and mid-sized PSU banks
 "PSB rally has more legs; re-rating, more upside likely, say analysts")
Optimism on PSU banks justified, but selectively
Brokerages bullish on SBI, PNB & BoB, though some feel rally may subside as earnings take centre stage
PSU Bank index hits 52-week high; market-cap up by Rs 1.1 lakh crore
SBI, PNB, Canara Bank, Bank of India, Union Bank of India, Oriental Bank of Commerce and Bank of Baroda were up in the range 25% to 38% on the NSE
 "PSU Bank index hits 52-week high; market-cap up by Rs 1.1 lakh crore")
Nifty PSU Bank index zooms 21% on government's Rs 2.11-lakh crore recapitalisation plan
SBI, PNB, Bank of India, Bank of Baroda, Canara Bank and Union Bank of India were up 22% to 36% on the NSE in intra-day trade.
PSU bank recapitalisation: Analysts concerned about budgetary support
Latest move will, however, benefit capital-starved PSBs as they focus on business growth once their basic need of capital is taken care of
 "PSU bank recapitalisation: Analysts concerned about budgetary support")
Govt clears Rs 2.11 lakh crore bank recapitalisation plan
The move is aimed at creating jobs and boosting economic growth
 "Govt clears Rs 2.11 lakh crore bank recapitalisation plan")
Bankers, analysts welcome recapitalisation move
The move will have cascading effects for lot of related sectors, said SBI chairman Rajnish Kumar
 "Bankers, analysts welcome recapitalisation move")
