Punjab National Bank (PNB) share price was lower by 3.24% or Rs 2.55 to Rs 76.15.PSU banking stocks fell in Wednesday's trading session after a strong start.
On the National Stock Exchange (NSE) at 11:30 am, State Bank of India (SBI)'s share price was down 0.33 per cent or Rs 0.85 to Rs 258.20.
Punjab National Bank (PNB) share price was lower by 3.24 per cent or Rs 2.55 to Rs 76.15.
All the 12 stocks on the Nifty PSU bank index were in red.
Major PSU banking stocks fell despite reports of capital infusion of up to Rs.
10,000 crore by the government in some of the lenders --PNB, Corporation Bank and Central Bank of India.The fresh round of capital infusion of between Rs.
8,000 and Rs.
10,000 crore may take place within this week, or latest by the next, in these PSBs.
Last October, the Union Cabinet approved a Rs.
2.11 lakh crore recapitalisation plan for PSBs.On SP BSE Sensex share price of SBI fell 0.48 per cent or Rs 1.25 to Rs 258.
Share price of PNB slumped by 4.32 per cent or Rs 3.40 to Rs 75.15.Meanwhile, private banks' stocks traded mixed.Private lender Federal Banks's share price fell by 3.23 per cent or Rs 2.85 to Rs 85.45 despite the lender posting a 25 per cent jump in its first quarter profit on Tuesday, helped by higher interest income.
Its net profit stood at Rs 263 crore.Five stocks out of 10 on the Nifty Private bank index also fell.Federal Bank stock was also down on the BSE by 3.91 per cent or Rs 3.45 to Rs 85.10.