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Banking stocks gain on announcement of making provision for bank recapitalization in FY17

29 Feb 2016 Evaluate

State Bank of India is currently trading at Rs. 161.20, up by 4.95 points or 3.17% from its previous closing of Rs. 156.25 on the BSE. The scrip opened at Rs. 158.75 and has touched a high and low of Rs. 163.90 and Rs. 157.50 respectively. So far 2372540 shares were traded on the counter.

Bank of Baroda is currently trading at Rs. 136.65, up by 4.00 points or 3.02 % from its previous closing of Rs. 132.65 on the BSE. The scrip opened at Rs. 134.10 and has touched a high and low of Rs. 139.05 and Rs. 132.35 respectively. So far 1266073 shares were traded on the counter.

Punjab National Bank is currently trading at Rs. 74.15, up by 1.65 points or 2.28 % from its previous closing of Rs. 72.50 on the BSE. The scrip opened at Rs. 73.10 and has touched a high and low of Rs. 75.45 and Rs. 72.65 respectively. So far 628097 shares were traded on the counter.

Finance Minister, Arun Jaitley in its Union Budget 2016-17 proposed to make provision for bank recap in FY17.

Peers
Company Name CMP
State Bank Of India 980.00
PNB 123.90
Bank Of Baroda 241.50
Canara Bank 119.75
Union Bank Of India 186.15
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