Stock of PSU Bank Went Up – Bank of Baroda Went Up 3 %
On Thursday, during the morning trading session, large numbers of PSU bank stocks were trading with decent gains. The list of PSU bank stocks includes Bank of Baroda, Bank of India and Canara Bank. This would be not wrong to say that the PSU bank stocks are on the upward trajectory.
The finance ministry has finalized capital infusion of Rs 11,336 crore in five PSBs to help them meet their interest payment commitments without impacting their regulatory capital requirements.
Apart from this the finance ministry is assessing the needs of 2-3 more banks and fund infusion in them would be done by the end of the second quarter of the current fiscal. Today, at around 11:25 am, the Nifty PSU Bank index was trading 1.14 per cent up at 2,807. Some other PSU Bank stocks those were trading in the green are Union Bank of India, Oriental Bank of Commerce, Punjab National Bank, Allahabad Bank, Indian Bank, Syndicate Bank, State Bank of India and IDBI Bank.
Benchmark NSE Nifty50 index was up 4 points at 10,985, while the BSE Sensex was up 85 points at 36,458.
Out of 50 stocks in the Nifty index, it was seen that the 24 were trading in the green and rest 26 were in the red.
The stocks those were among the top gainers in the Nifty pack of stocks are Vedanta, Titan Company, Bharti Airtel, Tata Motors and Mahindra & Mahindra.