Page 3 - Psu Bank Stocks

Bad loan recognition likely to weigh on stocks of public sector banks

Earnings improvement over two quarters was without proportionate lending growth

'PSU banks a trading opportunity than long-term investment theme'

The main concern for the PSU banks is governance, says Pradeep Gupta of Anand Rathi Shares & Stock Brokers

Amid privatisation buzz, Nifty PSU Bank index extends gains to 42% in Feb

On Thursday, the Nifty PSU Bank index, a gauge for the performance of state-owned banking stocks, rose 5.6 per cent

PSU banks, Magma Fincorp drive S&P BSE SmallCap index near record high

In the past one week, Bank of Maharashtra and Indian Overseas Bank have surged up to 67 per cent on report that the government has shortlisted four mid-sized state-run banks for privatisation

SBI standalone Q2 net up 52% to Rs 4,574 cr on rise in net interest income

Dip in bad loan provisions support better quarterly show; NPAs decline

PSBs rally on privatisation buzz; Nifty PSU Bank index up 2%; PNB gains 4%

Canara Bank, Bank of Maharashtra, Bank of Baroda, and State Bank of India surged between 2.6 per cent and 6 per cent in the intra-day trade today

Market Wrap, May 15: Here's all that happened in the markets today

Of 30 constituents, 20 declined and 10 advanced. Mahindra & Mahindra ended as the top loser on the index while telecom major Bharti Airtel was the biggest gainer

SBI dips 3% post deposit rate cut, Uttam Galva loan default; recovers later

At 9:44 am, SBI was trading 1.2 per cent lower at Rs 184 apiece on the NSE, as against a 0.5 per cent rise in the benchmark Nifty50 index.

IndusInd Bank, SBI tumble as Moody's downgrades sector outlook to negative

Stating that asset quality will deteriorate, Moody's said a sharp decline in economic activity and a rise in unemployment will lead to a deterioration of household and corporate finances.

PSB merger effect: State Bank of India, PNB dip up to 6%, Indian Bank up 8%

The consolidation, that will merge 10 PSBs into four, comes at a time when the country and financial system is grappling with adverse fallout of the Covid-19 pandemic.

OMCs, aviation stocks slip up to 4% as oil prices surge on US-Iran tensions

Iran's missile attacks on the Ain Al-Asad airbase and another in Erbil, Iraq, early Wednesday came hours after the funeral of an Iranian commander whose killing in a US drone strike has raised fears

OMCs, banks slump as US military kills top Iranian military commander

Brent Crude Futures surged over 3 per cent to trade at $68.25 per barrel-mark. The West Texas Intermediate, too, gained 2.71 per cent to $62.84 per barrel.

Syndicate Bank, SBI add up to 6% as RBI to buy and sell bonds via OMOs

With this, analysts believe, the RBI intends to lower yields on long-term bonds, and keep the liquidity at the system level intact. The move will allow the government to borrow at lower cost.

Second wave of NPAs? SBI, BoB, YES Bank could be hit, says Jefferies

YES Bank, Bank of Baroda, SBI, IndusInd Bank, and RBL Bank are amongst the banks most prune to "high risk" emanating from Anil Dhirubhai Ambani Group (ADAG), Cox & Kings, CG Power, and DHFL

Financials rally up to 7% on report govt could notify NBFC resolution rules

However, some financial stocks, with weak fundamentals, missed the rally. For instance, Indian Bank, YES Bank, and Indiabulls Ventures slipped up to 9 per cent.

PSB merger on expected lines; buy stocks for the long-term: Analysts

Investors need to understand the share swap ratio and the other details of the proposed merger, analysts caution

PSU banks gain as Cabinet clears amendments to bankruptcy code

The Nifty PSU Bank index, the second largest gainer among sectoral indices, ended 1% higher at 4,045

Banking stocks take a hit on provisioning worries

The Reserve Bank of India's (RBI) mandate instructing banks to make higher provisions for accounts referred to National Company Law Tribunal (NCLT) for resolution under Insolvency and Bankruptcy Code (IBC) came as a jolt for banking stocks on Tuesday. While the overall trading condition was also weak, the news was particularly negative for public sector banks (PSBs). Syndicate bank, Punjab National Bank, Canara Bank and Andhra Bank took 4 - 5 per cent hit in their stock prices, while that of State Bank of India, Bank of Baroda, and Union Bank corrected by 2.8 - 3.7 per cent on Tuesday. Even private banks with relatively high corporate exposure such as ICICI Bank and Axis Bank saw their share price fall 1.2 per cent and 2.3 per cent, respectively. As per RBI's latest directive, banks have to provide 50 per cent for secured loans and 100 per cent for unsecured loans referred to NCLT, clearly suggesting that provisioning towards bad loans may remain elevated for corporate banks and PSBs .

Bank stocks gain up to 7.7% on RBI's NPA resolution move

Banking sector is saddled with NPAs of over Rs 8 lakh crore, of which Rs 6 lakh crore is with PSBs

PSU bank stocks bleed on NPA worries

PSB stocks have witnessed exuberance since the issuing of an ordinance to clear bad loans