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Quick Wrap: Nifty PSU Bank Index rises 3.62%
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SBI in $1 billion funding for Sun Pharma’s US deal
State Bank of India is set to commit up to $1 billion to fund Sun Pharmaceutical Industries Ltd.'s $12 billion acquisition of Organon & Co. This move marks a significant step for government-run banks in financing corporate takeovers. SBI will join other global lenders in this substantial deal. The funding underscores the growing ambition of Indian companies to expand globally.
Sensex jumps 217 pts; Nifty trades below 23,200 level; VIX tanks 6.12%
The Nifty traded above 23,200 level. PSU Bank, bank and financial services shares advanced while IT, oil & gas and media shares declined.
Central Bank of India gains for third straight session
Central Bank of India is quoting at Rs 31.06, up 2.07% on the day as on 12:49 IST on the NSE. The stock is down 22.64% in last one year as compared to a 7.57% jump in NIFTY and a 17.79% jump in the Nifty PSU Bank index.
Indian Bank soars 2.73%, up for third straight session
Indian Bank is quoting at Rs 866, up 2.73% on the day as on 12:49 IST on the NSE. The stock is up 37.73% in last one year as compared to a 7.57% fall in NIFTY and a 17.79% fall in the Nifty PSU Bank index.
Federal Bank Ltd up for third straight session
Federal Bank Ltd is quoting at Rs 313.85, up 3.04% on the day as on 12:49 IST on the NSE. The stock is up 48.74% in last one year as compared to a 7.57% slide in NIFTY and a 2.91% slide in the Nifty Bank index.
IDFC First, Federal, BOB, PNB, Canara Bank gain up to 4%; here's why
At 11:26 AM on the Tuesday, the Nifty Bank and Nifty Private Bank index (up 1 per cent each) and Nifty PSU Bank index up 2 per cent outperformed the Nifty 50, which was down 0.03 per cent.
Indices trade with minor gains; PSU bank shares advance
At 11:30 IST, the barometer index, the S&P BSE Sensex, jumped 3.51 points or 0.01% to 73,526.90. The Nifty 50 index rose 11.75 points or 0.05% to 23,134.75.
ICICI Bank pips Reliance Industries to become second-largest weighted stock in Nifty 50 despite smaller market cap - Mint
ICICI Bank pips Reliance Industries to become second-largest weighted stock in Nifty 50 despite smaller market capMint
IDFC First Bank to ICICI Bank, SBI: Nifty Bank jumps over 1% as RBI swap facility lifts bank shares
The RBI's new swap facility aims to lower hedging costs for banks on foreign borrowings, enhancing liquidity. Despite recent gains, analysts suggest caution as the Bank Nifty remains volatile within a broad trading range.
Sensex Today Trades Higher | Nifty Above 23,200 | ICICI Bank & Bajaj Finance Top Gainers - Equitymaster
Sensex Today Trades Higher | Nifty Above 23,200 | ICICI Bank & Bajaj Finance Top GainersEquitymaster
Explained - The key factors behind the rally in banking stocks on Tuesday
Shares of Punjab & Sind Bank and Bank of Baroda are the top gainers on the PSU Bank index, trading with gains of around 1.5%, while IDFC First Bank is among the top gainer on the Nifty Bank index, trading 4% higher after brokerage firm HSBC initiated coverage of the stock.