FOUR PSU BANK SHARES GAIN AFTER GOVERNMENT PLANNING TO SELL STAKE

Shares of four public sector undertaking (PSU) banks have gained after the government said that these state-run lenders will be raising capital this year to be compliant with SEBI's minimum public shareholding norm. These four banks are

, , , and Of the 12 PSU banks, these four lenders highlighted above, have government stake near or in excess of 90% at the end of the June quarter. All of these banks raised between Rs 1,500 crore to Rs 2,000 crore recently through a QIP which resulted in negligible dilution of the government's stake. This year the above banks are going to raise capital to also meet the SEBI guidelines of below 75% public shareholding.