January 24, 2018 / 9:26 AM / 3 months ago

BUZZ-India's state-run lenders rise on hopes of bank recap plan details

** State-run banking stocks gain; NSE PSU bank index rises as much as 3.7 pct to its highest since Nov. 29

** Finance Minister Arun Jaitley may provide details of bank recapitalisation plan during news conference at 3:30 p.m. local time (1000 GMT), local television channels say

** India’s cabinet approved a 2.11 trillion-rupee plan in October to recapitalise its state banks over next two years

** Government seeking to issue 800 billion rupees of recap bonds in 2017/18 fiscal year

** State Bank of India climbs as much as 3.7 pct; top gainer on NSE index

** Punjab National Bank up 4.8 pct, Bank of Baroda Ltd gains 3.8 pct, Union Bank of India Ltd rises 3 pct

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