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15-Mar2019

Banking shares gain on expectation of better performance in FY20

Banking shares edged up as ICRA in its report stated that that after four years of consecutive losses, the state run banks are likely to report a profit of Rs 23,000-37,000 crore in the next financial year, with their gross non performing loans declining to 8.1-8.4 percent by March 2020.

State Bank of India is currently trading at Rs. 296.85, up by 5.70 points or 1.96% from its previous closing of Rs. 291.15 on the BSE. The scrip opened at Rs. 292.05 and has touched a high and low of Rs. 298.10 and Rs. 292.05 respectively. So far 676418 shares were traded on the counter.

Punjab National Bank is currently trading at Rs. 86.55, up by 2.10 points or 2.49% from its previous closing of Rs. 84.45 on the BSE. The scrip opened at Rs. 85.00 and has touched a high and low of Rs. 87.15 and Rs. 85.00 respectively. So far 2018955 shares were traded on the counter.

Bank of Baroda is currently trading at Rs. 118.60, up by 2.00 points or 1.72 % from its previous closing of Rs. 116.60 on the BSE. The scrip opened at Rs. 116.60 and has touched a high and low of Rs. 119.80 and Rs. 116.05 respectively. So far 723810 shares were traded on the counter.

In the last four years, with large capital infusion from the government, the state-run banks have been able to recognise and provide for their stressed assets with a steady decline in their gross NPAs (GNPAs) and net NPAs (NNPAs).


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