Web Exclusive
Tech view: Divestment news can trigger up to 25% rally in IOB, Central Bank

PSU Bank stocks are back on investor radar this week after a media report suggested the government may soon initiate the process to privatise Central Bank of India and Indian Overseas Bank. The report further suggested the two lenders might see 51 per cent sale in the first phase of disinvestment. Reacting to the development, shares of both these lenders got locked in the 20 per cent upper circuit on Monday and extended thier rally to jump 16 per cent (IOB) and 17 per cent (Central Bank of India) on Tuesday and claimed fresh 52-week highs. That apart, J&K Bank, Indian Bank, Canara .....

Key stories on business-standard.com are available to premium subscribers only.

Already a premium subscriber?

Subscribe to get an across device (Website, Mobile Web, Iphone, Ipad, and Android Phone applications) access to Premium content, Breaking News alerts, Industry Newsletters, Stock and Corporate news alerts, access to Archives and a lot more.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel