Usually, when new segments of growth open up for the banking sector, their stock prices welcome the move. However, Friday was one such instance when despite the Reserve Bank of India broad-basing the canvas under the priority sector lending, the Nifty Bank index shed 2.2 per cent.
Even as overall gloomy market conditions may have been a reason for the index to brush aside the announcement, the larger question remains as to whether this is enough for banks to shed their risk aversion as far as lending operations are concerned. Not quite, says Siddharth Purohit of SMC Capital. At the ...
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