SBI, others gain on capital infusion reports

Last Updated: Mon, Dec 03, 2012 10:18 hrs

Shares in some state-run lenders including State Bank of India outperform the benchmark bank index after news channels report that the government will take a decision on capital infusion this week, dealers say.

In November, Finance Minister P. Chidambaram said the combined injection of capital will not exceed the 150 billion rupees ($2.73 billion) provisioned in the budget for the fiscal year ending in March 2013.

Lenders likely to get capital rise: State Bank of India rose 1.5 percent, Indian Overseas Bank was 3.3 percent up while Central Bank of India gained 2.5 percent. The Bank Nifty was down 0.49 percent.

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