The Nifty PSU Bank index has risen 85% in the current fiscal to 6,888.50 points as on March 22, the highest in 14 years. The Nifty Private Bank index has gained 14% in FY24 to 23,452.60 points.
Indian Overseas Bank has been the biggest gainer in the PSB rally, with the stock rising 164%. Shares of Punjab National Bank, Central Bank of India and Bank of Maharashtra have gained 163%, 145% and 141%, respectively, in FY24. State Bank of India (SBI) has risen 43%, the lowest increase among PSBs.
Among private banks, shares of Dhanlaxmi Bank, J&K Bank and South Indian Bank have been the biggest gainers, rising 203%, 166% and 116%, in FY24. HDFC Bank has been the biggest laggard in the private bank space as it fell 10% in the current fiscal. Bandhan Bank and AU Small Finance Bank, besides HDFC Bank, are the only lenders to see a fall in share prices.
What drives PSB rally
Diese Geschichte stammt aus der March 26, 2024-Ausgabe von Financial Express Mumbai.
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