Explained: Why shares of Indian Overseas Bank, Central Bank of India surged sharply today
Shares of two state-owned banks, Indian Overseas Bank (IOB) and Central Bank of India (CBI), jumped sharply during Wednesday’s intra-day trading session. Shares of both banks had rallied up to nearly 20 per cent in early trade. At 11:50 am, shares of IOB were trading 11.34 per cent higher on the Bombay Stock Exchange…