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PSU Bank Stocks Surge 20% Amid Speculation Over Stake Sale
The New Indian Express Bengaluru
|January 15, 2025
PUBLIC sector bank stocks were in high demand in the final hour of trading on Tuesday amid speculations of stake sale by the central government.
Shares of five lenders—Central Bank of India, Indian Overseas Bank (IOB), UCO Bank, Punjab & Sind Bank (PSB), and Bank of Maharashtra (BoM)—surged in double-digit figures on news that the Centre has approved a fundraising plan via the qualified institutional placement (QIP) route.
The fundraising, as per a report, will be executed in small tranches beginning in the fourth quarter of the financial year 2024-2025 (Q4 FY25).
This story is from the January 15, 2025 edition of The New Indian Express Bengaluru.
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