Four Banks dominate gainers

Since yesterday, there has been this report from Reuters, talking about the four banks that are to be privatized.

Reuters, in its report said that through Govt sources, it has come to know the names of the four banks – Bank of Maharashtra, Bank of India, Indian Overseas Bank and the Central Bank of India.

The Govt is yet to confirm this news but the market is taking this news seriously as all four of these four banks dominate the top five gainers on the BSE.

The report said that of these, two will be selected for sale in FY22.

On the other hand, CNBC TV18 stated today morning that its sources in the Givt said that this ‘shortlist’ is not true. In fact it said that the Govt is yet to identify PSBs for privatization and the process will take a while.

Nevertheless, the markets are paying no heed to this ‘clarification.’ Bank of Maharashtra is the top gainer currently, hitting the 20% UC at Rs.19.10, a new high too. IOB briefly skimmed the 20% UC of the day at Rs.13.20 and is now trading at Rs.12.59. Central Bank of India also rose up over 15.5% to Rs.16.12 and Bank of India hit a new high at Rs.67.70.