Saturday, August 3, 2013

Finance ministry plans to buy beaten-down shares of public sector banks

............"Banking stocks are at an all-time low. Our holding will increase if we directly infuse capital through preferential allotment of shares. Banks can explore other routes when conditions are conducive and the government will also get better return on its stake dilution," the official explained. Already some banks like Bank of Maharashtra have indicated to the finance ministry that they are not in a position to go ahead with their fund-raising plans through the qualified institutional placement route..............

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