Read more about IDBI Bank jumps after exit from PCA on Business Standard. IDBI Bank surged 13.86% to Rs 43.55 after the Reserve Bank of India took the bank out of the Prompt Corrective Action (PCA) Framework subject to certain conditions and continuous monitoring.
Sensex Surges Over 500 Points, Nifty Above 15,300 On Strong Global Cues HDFC Bank, Infosys, ICICI Bank, Reliance Industries, Larsen & Toubro and Axis Bank were among the top movers in the Sensex.
Updated: March 12, 2021 9:42 am IST
The Indian equity benchmarks staged a gap up opening on Friday on the back of strong global cues. The Sensex rose as much as 542 points or 1 per cent and Nifty 50 index moved above its important psychological level of 15,300. Meanwhile, Asian shares pushed higher on Friday after U.S. President Joe Biden signed a $1.9 trillion stimulus bill into law, and as a retreat in bond yields overnight eased global concerns about rising inflation.
Stock Market News Update Today: Sensex and Nifty are set to open higher on Friday, tracking firm global cues and strong trading at Nifty futures on the Singapore Exchange
Indian Overseas Bank, Central Bank of India and UCO Bank are currently under this framework that puts several restrictions on them, including on lending, management compensation and directors fees.