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[hfe_template id='11223'] [ad_1] NEW DELHI - The Indian government is considering selling minority stakes in four state-run banks to comply with public shareholding norms mandated by the country's markets regulator, a government source told Reuters. The finance ministry is likely to seek approval of the federal cabinet in the coming months to dilute the stake in Central Bank of India, Indian Overseas Bank, UCO Bank, and Punjab and Sind Bank, the source said. The Indian government owns more than 93% in Central Bank of India, 96.4% in Indian Overseas Bank, 95.4% in UCO Bank and 98.3% in Punjab and Sind Bank as of end-September, according to data on the BSE's website. The plan under consideration is to sell the stake through an offer for sale in the open market, the source said. The Securities and Exchange Board of India (SEBI) requires listed companies to maintain a 25% public shareholding, but has exempted government-owned firms from meeting these norms till Aug...

[hfe_template id='11223'] [ad_1] Investors who were quick to dismiss high-flying PSU stocks on June 4 when BJP failed to get the absolute majority in the Lok Sabha on its own are now forced to eat the humble pie. After crashing 16% on result day, PSU stocks are once again leading the bull run as if PM Modi actually managed to achieve the ambitious target of '400 paar'. Driven by defence PSU Mazagon Dock Shipbuilders, which has seen a 48% return, the combined market capitalisation of 56 PSU stocks, which are part of the BSE PSU index, has surged by Rs 723,823 crore to Rs 68,03,059 crore in just 10 trading sessions (from June 4 closing till 19 June). Shares of RCF have zoomed 33%, Cochin Shipyard 24.5% while HUDCO and MMTC are up 23% each. Other top gainers include HAL, BEL, and BHEL. The fate of the multibagger bull run in PSU stocks was linked to the BJP's performance in the Lok Sabha elections and was also segmented as "Modi stocks" along with othe...