Equity MFs see hidden value in state-run banks

Stocks of public sector banks (PSBs) are finally finding some favour among equity fund managers. With several government measures to help these banks and clarity emerging about their growth prospects in the coming quarters, fund managers were seen investing in select PSBs last month, after avoiding state-owned banks for nearly two years. State Bank of India (SBI), Punjab National Bank (PNB) and Union Bank of India are the prominent names here, with Rs 800 crore being invested in these stocks by fund managers, amid a sharp rally in these counters. In fact, SBI was the second-most ...

Click here to read more>>