State-run banks' shares outperform private peers on recovery bets
Business Standard|June 10, 2021
banks, lending

Shares of India’s state-owned banks are outperforming their private peers after 12 straight years of underperformance, with gains fueled by capital raising and optimism over potential stake sales by the government in some banks.

A gauge of public sector lenders has surged 39 per cent so far in 2021, as a broad improvement in the sector’s asset quality and India’s plans to transfer soured loans to a proposed bad bank boosts their growth outlook.

chart

“Raising money gives you confidence that valuations will catch up and balance sheet can be cleaned,” said Siddharth Purohit, an analyst with SMC Global Securities.

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

First Published: Fri, June 11 2021. 01:48 IST
TRENDING STORIESView All

A Bittersweet Homecoming

Filipino migrant workers repatriated during the pandemic face a dearth of job opportunities

4 mins read
Bloomberg Businessweek
June 21, 2021

Wing Yau – Earth Connection

Her jewelry sculptures reflect a connection to the people and country of provenance, to her team and finally, to those who choose her pieces from Wwake to create their own expression.

9 mins read
JUXTAPOZ
Summer 2021

A Pop-Up Store Hits the Road

Cuyana’s store-on-a-truck is a cost-effective way to quickly test locations and products

4 mins read
Bloomberg Businessweek
June 14, 2021

A Climate To Fear

Central America’s subsistence farmers are fleeing increasingly severe droughts and storms

4 mins read
Bloomberg Businessweek
June 14, 2021

Celebrate Good Times

Travelers again look to special trips to observe life’s milestones.

7 mins read
Global Traveler
June 2021

Liz Phair – Back in the Game

Indie rock legend Liz Phair reemerges with Soberish new album in over a decade

5 mins read
Newsweek
June 18 - 25, 2021

The Return Of Night Life

Out All Night With Remy Duran

10+ mins read
New York magazine
June 7 - 20, 2021

The Return Of Everything – The Return of FOMO

The pandemic forced us to simplify our lives and look inward. Now it’s time to have fun again. That should be easy, right?

10+ mins read
New York magazine
June 7 - 20, 2021

An Exclusive Interview With Daniel Sackheim

Daniel Sackheim is an American Film & Television director and producer best known for his highly acclaimed series as HBO's True Detective Season 3, Game of Thrones, and FX's The Americans.

10+ mins read
Lens Magazine
May 2021

An Exclusive Interview With Quim Fábregas

The childhood of the Baka pygmies

9 mins read
Lens Magazine
May 2021