After the announcement of relief for the telecom sector, today there is a sharp rise in banking and telecom stocks. In such a situation it is important to understand what is the connection between these two. In fact, both government and private banks have given loans of thousands of crores to telecom companies. Only Vodafone Idea owes banks about 29000 crores.
Vodafone Idea was on the verge of closure. The company has got a new life after the relief package. It will also pay the dues of the banks once the company’s business returns on track. Two sectors seem to be getting direct benefits from the government’s decision on Wednesday. According to the report of CNBC Awaaz, the total outstanding of State Bank of India on the telecom sector is 37300 crores. Similarly, the outstanding of HDFC Bank is 24515 crores.
Axis Bank outstanding 17 thousand crores
Apart from this, Axis Bank’s dues are 17135 crores, Union Bank’s dues are 15346 crores, Bank of Baroda’s dues are 11471 crores, Punjab National Bank’s dues are 7381 crores, IDBI’s dues are 6172 crores and Canara Bank’s dues are 6080 crores.
29 thousand crore dues of banks
Now talk only about Vodafone Idea, till March 2021, the total liability of the company was about Rs 1.9 lakh crore, which includes bank loans. Only the dues of banks on the company are about 29000 crores. SBI has given the maximum loan, but according to the loan book of the bank, the largest share is of IDFC First Bank.
SBI has given 11 thousand crores
SBI has given a loan of 11000 crores to Vodafone Idea. This is 0.50 percent of SBI’s loan book. IDFC First Bank has given a loan of Rs 3240 crore which is about 3 per cent of its loan book. Yes Bank has given a loan of 4000 crores, which is about 2.4 percent of its loan book. Punjab National Bank has given a loan of 3000 crores which is about 0.50 percent of its loan book.
Axis Bank has given 1300 crores
Axis Bank has given a loan of 1300 crores, which is about 0.20 percent of its loan book. ICICI Bank has given a loan of 1700 crores, which is 0.20 percent of its loan book. HDFC Bank has given a loan of 1000 crores which is 0.10 percent of its loan book. Please tell that this report has been prepared by Nomura. IndusInd Bank has given a loan of 3500 crores to the company.
Big rally in banking stocks
Today there is a huge boom in the banking sector. At two o’clock in the afternoon, about 2 percent in Nifty Banking and 4.20 percent in Nifty PSU Banking is seen. At present, IndusInd Bank, 7.30 percent, 6.20 percent in Punjab National Bank, 4.50 percent in IDFC First Bank, 3.23 percent in SBI. Vodafone Idea’s stock is up 27 percent while Airtel is seeing a decline of 0.22 percent.
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