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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • With RBI’s role diluted, we are moving closer towards a super regulator

    The government and the Reserve Bank of India (RBI) have signed a monetary policy framework agreement last month under which RBI will be committed to b

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Roopen Roy

The making of a digital Bharat

Exactly 20 years ago, Nicholas Negroponte of MIT Media Labs ...

Rajgopal Nidamboor

The eternal radiance of our being

We sense, we sight, we smell, we touch, we hear, ...

Shona Adhikari

Art world celebrates two ‘new’ Cezannes

The focus moves once more to post-impressionist Paul Cezanne, who ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture