The government's announcement of a Rs 2.11 lakh crore, two-year roadmap for strengthening public sector banks (PSBs) pushed markets to record highs. The state-run banking space was dominated by Canara Bank, Bank of Baroda, Bank of India, Bank of Maharashtra, Allahabad Bank, IDBI Bank and Syndicate Bank, which rose 46 per cent. Private lenders ICICI Bank and Axis Bank jumped 14.69 per cent. However, Deepak Jasani, head-retail research, HDFC Securities said it might be too early to take of PSBs overtaking private banks. "While public lenders might give some competition to the private lenders, they may not outpace them at this point till other issues plaguing them are addressed.

Source: dna October 26, 2017 01:07 UTC