Tag: Punjab National Bank

Monday mayhem on D-Street: PSU Bank index tanks 5% dragged by PNB; Maruti hits 2-yr low

Source: moneycontrol.com Indian benchmark indices are down over 1.5 percent each dragged by the Auto and the PSU Bank index. The major contributors to the fall are Maruti Suzuki and Punjab National Bank. Nifty is down 197 points and is trading at 11,614 level while the Sensex plunged 627 points and is trading at 38,886 level. Nifty PSU

Budget 2019 proposes Rs 70,000 crore towards recapitalisation of public sector banks

Source: financialexpress.com By Mitali Salian Budget 2019 India: The Union Budget has proposed setting aside Rs 70,000 crore in the current financial year towards recapitalisation of public sector banks (PSBs) with a view to boosting credit, which has been growing at around 13% year-on-year (y-o-y). Over the last couple of years, overall business growth has

‘Buy on dips till Nifty stays above 11,575; bet on these 5 stocks for 8-21% upside’

Source: moneycontrol.com The market snapped three weeks’ losing streak on the back of buying seen in the banking sector during last week. Nifty traded in a tight range of 11,900-11,640 forming a bullish candlestick pattern. Current weekly candlestick pattern formation suggests strong uptrend to unfold if Nifty closes above the previous week’s high of 11,910.