State-run banks jump; BJP, allies tipped to win big

Tags: Companies
The NSE Bank sub-index surged as much as 10.6 per cent to hit a life high of 15,742.05 as state-run banks surged after election results showed the BJP and its allies headed for the biggest electoral victory the country has seen in 30 years.

Canara Bank vaults 14 percent, Union Bank of India jumps 9 percent, Indian Bank surges 9.1 percent and Andhra Bank 11.6 percent.

Valuations at multi year lows, some of the state-run banks are available at 0.6-0.7 times of their book value, is also seen helping, dealers say.

EDITORIAL OF THE DAY

  • Common test will safeguard sanctity and bring accountability to medical profession

    Recalling its order of 2013, the Supreme Court paved the way for the all-India common entrance test, the national eligibility-cum-entrance test (NEET)

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Amita Sharma

Political rhetoric makes for counter poetry

Poetic flourishes flavour politics. Ghalib and Hafez flowed profusely to ...

Zehra Naqvi

Watch your words, for they can kill

You must’ve heard the ph­rase ‘if looks could kill’. Ever ...

Dharmendra Khandal

Biodiversity day has come and gone. Yet again

Every year on May 22, world celebrates international biodiversity day. ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture