Private banks to gain on recapitalization package to revive growth

India Infoline News Service | Mumbai | October 25, 2017 08:56 IST

Shares of private banks are likely to surge today on the government's Rs 9 trillion rupee package to revive credit demand and investment in the economy.

Shares of private banks are likely to surge today on the government's Rs 9 trillion rupee package to revive credit demand and investment in the economy.

The government's Rs 2.11 lakh crore recapitalization plan for public sector banks will also aid the credit growth in the economy, which is expected to benefit private corporate lenders.

On the back of yesterday’s development, we might witness buying activities in corporate lenders such as ICICI Bank and Axis Bank.

PSU bank stocks will also see good action during the day.

On Tuesday, shares of ICICI Bank, Axis Bank, Kotak Mahindra Bank and HDFC Bank ended up 0.2-1.5%.

American Depositary Receipts of ICICI Bank ended up 8.2%.


***Note: This is a NSE Chart

 

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