Govt plans minority stake sale in 4 PSU banks: Report
NEW DELHI – The Indian government is considering selling minority stakes in four state-run banks to comply with public shareholding norms mandated by the country’s markets regulator, a government source told Reuters. The finance ministry is likely to seek approval of the federal cabinet in the coming months to dilute the stake in Central Bank…
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LIC increases stake in Bank of Maharashtra from 4.05% to 7.1% via QIP
Life Insurance Corporation of India (LIC) has increased its stake in Bank of Maharashtra, the company informed the exchange in a filing. In an official statement on Saturday, LIC announced that it has raised its shareholding in the bank from 4.05 per cent to 7.10 per cent following a Qualified Institutional Placement (QIP). “..the Life…
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Bank of Maharashtra shares in focus as it launches QIP to raise Rs 3,500 crore
Public sector lender Bank of Maharashtra shares are in focus on Tuesday after the bank launched a qualified institutional placement (QIP) to raise up to Rs 3,500 crore. The bank set a floor price of Rs 60.37 per share, slightly above Monday’s closing price of Rs 59.8. The bank may offer up to a 5%…
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PSU banks’ Q1 results decent, but are valuations supportive of next leg of the rally?
Despite a decent Q1 performance, PSU bank stocks have struggled over the past month, falling nearly 6% (as of August 13), with concerns over valuations in the overall PSU sector weighing on the market. Experts ETMarkets spoke to anticipate stock-specific action rather than a runaway rally. Hereβs why! Barring State Bank of India (SBI), which…
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Vedanta gets clearance from 75% secured lenders for demerger
In a key step for its proposed demerger, Vedanta has received approval from 75% of its secured creditors to obtain a clearance from stock exchanges. The natural resources major will then file the demerger scheme with the National Company Law Tribunal. The company is also in talks with some of these lenders to prepay their…
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Banks Q up for Rs 40,000 crore equity fundrace
Mumbai: Banks are preparing for collective equity fundraise of nearly βΉ40,000 crore in the second half of this financial year, show data compiled by ET. They are expected to use the fresh capital to reinforce balance sheets, mainly to support expansion. The boards of state-run Punjab National Bank (PNB) and Bank of Maharashtra have approved…
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