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Public sector banks hop on capitalization thrust

The shares of the public sector banks rallied sharply on the bourses, as the Finance Minister, Pranab Mukherjee, declared capital infusion for them in the Union Budget 2012-13.

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Mukherjee also added that, Rs. 15, 888 crore will be provided for the capitalization of public sector and regional rural banks and NABARD.

In this situation, a positive sign came when, State Bank of India grow 2%, Bank of India gained 3.5%, Indian Bank 2.2%, Syndicate Bank 2 %, whereas, Andhra bank, Bank of Maharashtra, Canara Bank, Central Bank, Corporation Bank, Dena Bank, Indian Bank, Oriental Bank, Indian Overseas Bank, Punjab National Bank, UCO Bank, United Bank, Vijaya Bank also gained over 1% each.

Lead Source URL: http://www.thehindubusinessline.com/markets/stock-markets/article3001935.ece

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