Banking stocks at 52-week highs: Three banking shares — Bank of Baroda (BoB), Punjab National Bank (PNB) and South Indian Bank — have hit a new 52-week high during early morning deals on Monday. Out of these three banking shares, South Indian Bank share has delivered multibagger return to its positional shareholders in last one year while BoB share price has risen around 85 per cent and PNB share price has ascended to the tune of 95 per cent in this time.
Bank of Baroda: BoB share price today opened upside and went on to hit a new 52-week high of ₹210.80 apiece on NSE. However, Bank of Baroda shares witnessed profit booking after hitting 52-week high and made an intraday low of ₹204.40 apiece, losing over 2 per cent against its close price of ₹209 apiece on Friday. In the last one year, BoB share price has remained an ideal buy on dips stock for positional investors as the stock has risen from around ₹110 to ₹210 apiece levels, logging to the tune of 85 per cent rise in this time.
In post Covid rebound, the PSU stock has surged from around ₹37.50 to ₹210 apiece levels, delivering near over 450 per cent in near three years.
Punjab National Bank: PNB share price has witnessed robust growth during July to December 2022 as the PS bank share surged from around ₹31 to ₹60 apiece levels, delivering almost 100 per cent return to its shareholders in less than six months. However, after ushering in new year 2023, PNB share price went through profit booking trigger and bottomed out at ₹45 apiece levels at the end of March 2023. In new financial year, 2023, this PSU bank share attracted fresh buying interest of value buyers and the stock started giving upside movement and hit a new 52-week high of ₹62.35 apiece levels during morning deals today.
In last one month, PNB share price has ascended around 15 per cent whereas in YTD time, it has added little more than 5 per cent. However, in last one year, this PSU bank share has surged around 95 per cent. However, in post-Covid rebound, this state-owned banking share has risen from around ₹27 to ₹62.35 apiece levels, delivering around 130 per cent in last three years.
South Indian Bank: This private lender stock has delivered whopping 175 per cent return to its positional shareholders. This penny stock turned a multibagger by surging from around ₹8 to ₹21.50 apiece in this time.
In post-Covid rebound, this private bank stock price has surged from ₹5 to ₹21.50 apiece levels, delivering 330 per cent in last three years.
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Updated: 10 Jul 2023, 01:29 PM IST