PSU banks rally after RBI new Basel norms; SBI, BOB surge over 8%
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Banking shares mainly public sector undertakings (PSUs) have rallied by up to 13% on the National Stock Exchange (NSE) in early morning trade after the Reserve Bank of India (RBI) has allowed banks to beef up its capital adequacy by including certain items such as property value, foreign exchange for calculation of its Tier-I capital.
State Bank of India (SBI), Bank of Baroda (BOB), Bank of India (BOI), Indian Bank, Union Bank of India, Canara Bank and Punjab National Bank are among few rallied more than 6% on the NSE.
At 09:25 AM, Nifty PSU Bank index zoomed 8.5% at 2,268 points as compared to 1.3% gain in the Nifty 50 index at 7,317 points.
The PSU banking index hit high of 2,280 in intra-day today, soared 12% in past two trading sessions against less than 5% rise in the benchmark index.
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Nationalist Congress Party (Sharadchandra Pawar) chief Sharad Pawar on Thursday criticised Prime Minister Narendra Modi, saying his speeches were not based on facts and reality.
Talking to reporters here, Pawar also alleged that PM Modi doesn't talk about the basic issues that people face and diverts their attention.
"I have never seen a prime minister earlier whose speeches were not based on facts and reality. He is satisfied with targeting me and Uddhav Thackeray," Pawar said.
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Donald Trump returned briefly to the campaign trail Wednesday and called the judge presiding over his hush money trial crooked a day after he was held in contempt of court and threatened with jail time for violating a gag order.
Trump's remarks at events in the battleground states of Wisconsin and Michigan were being closely watched after he received a $9,000 fine for making public statements about people connected to the criminal case.
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The Adi/Nadir Godrej family, along with other family members/trusts, has made an open offer to the shareholders of Astec Lifesciences to acquire an additional 26 per cent stake from the public as part of the family settlement agreement (FSA), according to an announcement to the stock exchanges on Wednesday.
The offer, made at the price of Rs 1,069.75 per share, was triggered by the Adi/Nadir family's plan to acquire a 20.84 per cent stake in Godrej Industries (GIL) from the Jamshyd Godrej/Smita Crishna Godrej family, according to the FSA announced on Tuesday.
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Andhra Pradesh Chief Electoral Officer Mukesh Kumar Meena on Tuesday said 49 Lok Sabha candidates and 318 Assembly candidates have withdrawn their nominations for the May 13 simultaneous elections in the state.
Consequently, the number of candidates contesting the 25 Lok Sabha seats got pruned to 454 and the 175-member Assembly to 2,387 candidates, the CEO said.
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The Delhi High Court, on Wednesday, granted SpiceJet a final chance to settle a payment of Rs 50 crore to its engine lessors, Team France and Sunbird France. If the airline fails to meet this obligation, it risks having two of its engines grounded, according to a report in The Economic Times (ET).
Justice Pratibha Singh instructed the counsel representing SpiceJet to obtain guidance by May 3 regarding the feasible time period for the low-cost carrier to pay Rs 50 crore to its lessors.
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