Indian Overseas Bank and Central Bank of India shares soared over 15 per cent in the intraday trade on BSE on Monday. The spike in shares of the two government-owned bank came after certain media reports claimed that the Centre has shortlisted CBI and IOB for divestment.  

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Indian Overseas Bank shares surged to day's high of Rs 23.80 per share, while Central Bank stocks rose to Rs 23.65 per share on the BSE in the early trade on Wednesday.  

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https://www.business-standard.com/ dated November 24, 2021 quoting "IOB, Central Bank of India surge up to 20% on privatisation buzz"

The development finds root in 26 Bills to be introduced in the winter session of the Parliament. Without taking the name, the agenda of the Parliament reads, “the bill intends to effect amendments in Banking Companies (Acquisition and Transfer of Undertakings) Acts, 1970 and 1980 and incidental amendments to Banking Regulation Act, 1949 in the context of the Union Budget announcement 2021 regarding privatisation of two Public Sector Banks.”

This has also been seen as part of the government's ambitious disinvestment target for this year.

This is among 26 bills that are scheduled to be introduced in the Parliament during the winter session.