The Nifty PSU Bank index surged up to 4.4% in intra-day trading, extending gains for the second consecutive session. This follows a 2.5% jump on June 5, after confirmation that the BJP-led NDA would form the government at the Centre.
This follows a decline of over 15% on June 4, after the Modi-led NDA experienced a tighter-than-expected election race and failed to secure as many seats as predicted by exit polls.
All PSU Bank constituents experienced gains in intra-day trading today, with Indian Overseas Bank, CBI, Union Bank of India, and Bank of Maharashtra rising over 5% each. Meanwhile, Indian Bank, SBI, Bank of Baroda, Punjab and Sind Bank, and UCO Bank saw gains between 4-5% each.
Fixed Deposit interest rates up to 9% – Compare the latest FD rates of more than 40 banks 1 in 5 under-construction homes stalled across 44 Indian cities in last 8 years: Report Fixed Deposits: Union Bank of India hikes FD rates – Check new rates, tenors Private banks outpace PSBs in Q1 deposit growth
Also Read
L&T, JKumar Infra, NCC are CLSA’s top picks as Modi led NDA Government prepares to take oath
Additionally, Canara Bank, Bank of India, and Punjab National Bank also recorded gains of over 3% each. The index has surged by 72% over the past year and by 28% year-to-date in 2024.
The index recorded a 1% decline over the first three sessions of June following a 2.9% loss in May. However, prior to this, it had seen six consecutive months of gains. Year-to-date, the index rose by 8.5% in April, 1 percent in March, 10.5 percent in February, and 9.8% in January.
Also Read
BHEL shares rally 14% after bagging Rs 3,500 crore order from Adani PowerCome from
Sports betting site VPbetPSU bank stocks witnessed a surge as investor sentiment improved following the confirmation of political stability through the 2024 Lok Sabha election results. Leaders of the National Democratic Alliance (NDA) pledged their support to form a government for a third consecutive term.Come from Sports betting site
In the last decade, public sector undertakings (PSUs) have notably benefited under the NDA government, a trend evidenced by the substantial gains of PSU stocks, with some yielding multi-bagger returns.
(Disclaimer: Views, recommendations, opinions expressed are personal and do not reflect the official position or policy of Financial Express Online. Readers are advised to consult qualified financial advisors before making any investment decisions. Reproducing this content without permission is prohibited.)
Related Posts
The Rs 151 crore Initial Public Offer (IPO) of Motisons Jewellers received 14.88 times subscription on the first day of bidding on Monday.
The IPO of the Jaipur-based retail jeweller company received bids for 31,05,38,000 shares against 2,08,71,000 shares on offer, according to NSE data.
Also Read
RBZ Jewellers IPO to open on Tuesday; sets price band at Rs 95-100 per share
The category for Retail Individual Investors (RIIs) received 22.01 times subscription while the portion for non-institutional investors got subscribed 13.74 times. The Qualified Institutional Buyers (QIBs) part got subscribed 8 per cent.
HAL set to bag another Rs 67,000 cr LCA order, stock zooms 3%, brokerages maintain ‘Buy’ Ola Electric shares jump over 16% after flat listing Ola Electric IPO Opens Today: Check GMP, price band, and other key details Akums Drugs and Pharmaceuticals IPO fully subscribed on first day of issue
The IPO of up to 2,74,71,000 equ…
Shares of RailTel Corporation rallied 7.6% to an intraday high of Rs 507.45. The surge in stock price came a day after the company received an order worth Rs 52.66 crore from the Uttar Pradesh government.
“…RailTel Corporation of India Ltd. (“the Company”) has received the work order from Uttar Pradesh Police Recruitment And Promotion Board for Service amounting to Rs. 52,66,30,075 (Excluding Tax),” read an exchange filing.
Also, in Q1 FY25, RailTel reported a net profit of Rs 49 crore, up 25% on year in comparison to Rs 39 crore it posted in the same period a year ago.
SEBI bars Anil Ambani from capital markets for five years Lacklustre close for markets! Nifty holds 24,800, benchmark indices up for 2nd week in row Nykaa shares jumps 7% after 1.4% stake sale via block deal CDSL shares jump 10% as stock trades ex-bonus
The revenue from operations came in at Rs 558 crore in the first quarter of the fisca…
By Gaurang Somaiya
Rupee steadily gained against the US dollar following sustained inflows in the debt segment, weakness in the dollar index, India’s inclusion in the Bloomberg bond index all of it has been supportive for the currency.
Volatility could remain elevated on back the RBI’s sell-buy swap which is maturing today. Expectation is that the central bank could take delivery of the $5billion swap in the wake of adequate dollar inflows and rupee liquidity staying on the tighter side.
Inflows into the debt market have aided dollar liquidity, with foreigners pouring in over $3 billion into bonds in February. On India’s inclusion in the Bloomberg bond index, the agency said that it will include India Fully Accessible Route (FAR) bond in its EM local Currency government index starting January 2025.
MSCI Rejig: HDFC Bank likely to see $1.8 billion inflows, Vodafone Idea, RVNL and 6 other stocks likely to be …
The Division Resurgence is opening registrations for its next phase of testing. As announced during the Ubisoft Forward presentation, you can register to try out the upcoming beta test for the mobile Division game now. The beta will begin Sunday, September 12.
The next test for Resurgence will let you try the competitive Conflict PVP mode, as well as the first time you can try the Dark Zone on mobile Come from Sports betting site VPbet. You can register through the official site at thedivisionresurgence.com
…
Sony has a long history of fantastic exclusive games on its consoles, dating back all the way to the original PlayStation with games like Metal Gear Solid and Final Fantasy VII. That has continued for decades, and looking ahead 2022 and beyond, there are a bunch of exciting exclusive or console-exclusive games coming to PS4 and PS5. Not only that, but there are many, many big-name multiplatform games on the way for Sony’s console in the time ahead. We’re rounding up some of our most-anticipated PlayStation games to look forward to next year and beyond.
Assassin’s Creed Infinity
One of gaming’s most popular and enduring franchises, Assassin’s Creed, is poised to grow in a big way with a new project currently known as Assassin’s Creed Infinity. Described as a “huge game” with some live-service functionality, Infinity–or whatever final name Ubisoft decides to give it–will have all the elements of the series that fans love, according to Ubisoft’s Yves Gu…
Churchill Downs Incorporated (CHDN) recently opened its new state-of-the-art Turfway Park Racing and Gaming facility, formerly Turfway Park, a big moment for the company after years of renovations. The night was an exciting one as visitors were able to see the new gaming venue for the very first time.
The company purchased the racing facility in 2019 and spend $46 million on the acquisition. A total of $148 million was spent overhauling the property to create a more exciting space. Grandstands and buildings were demolished, with a groundbreaking ceremony taking place on March 2021 to begin the new construction.
Creating a Visitor Destination
During the opening day, Florence Mayor Diane Whalen was on hand. She was one of a half dozen people who placed the first bet on historical racing machines. The mayor stated that she has always seen Florence as a retail destination and hopes the new property will provide a nice outlet for visitors as a recreation and destination…
The Cherokee Nation of Oklahoma is reportedly still pursuing a scheme to bring a large casino resort to central Arkansas despite the real prospect that the entire project may be cancelled by means of an upcoming statewide constitutional referendum.
According to a Tuesday report from the local Arkansas Money and Politics news magazine, the federally-recognized tribe has just received planning permission to build its proposed Legends Resort and Casino on 135 acres of land on the northern edge of the small city of Russellville. The source explained that this envisioned Pope County venue is set to include a hotel, a large gaming floor and a conference center as well as a concert hall, an outdoor water park and a recreational vehicle element.
Serious certification:
Although no official details regarding a construction timetable have yet been released, the source also predicted that work will not likely start until the numerous legal challenges in add…
Pennsylvania stands at a critical juncture in its online sports wagering industry, grappling with the implications of potential tax hikes amid a rapidly evolving regulatory landscape. As neighboring states implement significant changes to their taxation policies, Pennsylvania lawmakers and stakeholders must carefully navigate these shifts to ensure the continued growth and sustainability of the state’s burgeoning online sports betting market.
Regional legislative trends, a catalyst for change:
Across the Northeast region, states are reevaluating their taxation rates on online sports wagers in response to record-breaking revenue figures and shifting consumer preferences. New York and New Hampshire have set the bar high with a 51% tax rate, setting a precedent for other states to follow suit. In New Jersey, discussions are underway to more than double the current tax rate to 30%, signaling a seismic shift in regulatory priorities.
…
In the United Kingdom and the Gambling Commission regulator has announced that it has hit the operator behind the Betfred.com and OddsKing.com iGaming domains with a fine of £2.87 million ($3.12 million).
The watchdog used a Wednesday press release to detail that the penalty against Petfre (Gibraltar) Limited was imposed after an official investigation turned up a number of anti-money laundering and social responsibility failures. The regulator stated that the punishment comes about a month after it reprimanded iGaming operator SpreadEx Limited to the tune of £1.36 million ($1.61 million) and also encompassed the issuance of an ‘official warning’.
Deficient defense:
The Gambling Commission declared that the social responsibility shortcomings exhibited by Petfre (Gibraltar) Limited included having ‘no controls in place to prevent large levels of high velocity spend by new customers’. The regulator explained that it discovered that…
กลับมาพบกันอีกเช่นเคยกับ‘เกมมือถือน่าเล่นประจำสัปดาห์’ที่ This is Game รวบรวมเกมมือถือทั่วโลกทั้งโซนตะวันตก, จีน, ญี่ปุ่น ไปจนถึงเกาหลี นำมาฝากท่านผู้อ่านคอเกมมือถืออีกเช่นเคย ส่วนในสัปดาห์นี้จะมีเกมมือถืออะไรน่าดาวน์โหลดมาเมื่อยนิ้วกันบ้าง ถ้างั้นไปเราไปดูพร้อมกันเลยดีกว่าคร้าบ~
– เกมมือถือที่ลงสโตร์ต่างประเทศ :