Stocks to watch-out on Tuesday, 3-September, include the Bank names as follows, based on recent economical developments in connection the Amalgamation/merger of Banks.
The mega consolidation plan for public sector banks (PSBs), with Union Bank of India, Andhra Bank&Corporation Bank:
Oriental Bank of Commerce (OBC) The OBC and United Bank of India will be Amalgamated with PNB (Punjab National Bank) to become the second-biggest public sector Bank (PSB) of India with a business of Rs.17.95-Lakh-Cr- entity/
Syndicate Bank: Syndicate Banked to be to be amalgamated a with CanaraBank, which will be the 4th-biggest PSB with a business of Rs.15.20-Lakh-Cr.
Corporation Bank &Andhra Bank will be amalgamated with Union Bank to become the 5tth-biggest PSB with Rs.14.59-Lakh-Cr business.
Allahabad Bank and Indian Bank will be merged to form a Rs.8.08-lakh-Cr.