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PSU banks will gain from stake dilution, says Fitch

However, the agency said it expects access to core equity to remain challenging.

The power giant said it has signed a term loan agreement for Rs 2,000 crore with HDFC Bank and a similar agreement for Rs 1,000 crore with Syndicate Bank.
The NMDC has recently bought a sizeable stake in an Australian mineral exploration company and is expected to use it for both domestic and global operations.
It is presently operating a coal based 2600 MW (Stage-I, II & III) Thermal Power Station at Ramagundam in Karimnagar District of Telangana.
Officials in the finance ministry say the federal cabinet headed by Prime Minister Narendra Modi is expected to take a final decision on the issue of stake sale soon.
"After a meeting with the joint secretary of Coal Ministry and coal trade unions, we have agreed to defer the proposed strike," INTUC leader S Q Zama said.
A pro-government union will stay away from Monday's strike to oppose sale of 10 per cent stake in Coal India, which is crucial to hit deficit target.
The firms found violating capital market guidelines include giants like ONGC, Coal India and IOC and also banking major State Bank of India (SBI).
The government will give a discount of 5 per cent to retail investors in the offering and hopes to raise up to Rs 1,700 crore from the stake sale.
Oil and Natural Gas Corp (ONGC) has seen profits decline due to the sale of crude oil to other state-owned refiners at discounted rates.
The stake sale, which is worth US $286 million at the scrip's closing level on Wednesday, would mark the first stake sale under the new government.
Prime Minister Narendra Modi's government has reportedly started the process to shut down some loss-making central public sector enterprises (CPSEs).
Barclays, Citigroup, Deutsche Bank, HSBC and SBI Capital Markets acted as joint book-runners and lead managers.
Financial services provider Kotak has said that piece-meal divestments would achieve little in terms of improving efficiency and returns for the government.