PNB to Central Bank: These 5 PSU bank shares hit 52-week highs today

Market


Stock market today: Despite weakness in stock market today, more than 5 banking stocks have hit 52-week high in early morning deals on Monday. Interestingly, these banking stocks have managed to climb to its new 52-week high when Bank Nifty index is in negative zone after near three hours of trade. Out of those banking stocks that have hit 52-week high today, 5 banking shares are state-owned banks. List of those PSU banks that hit 52-week high includes Central Bank of India, Indian Bank, Punjab National Bank, UCO Bank and Union Bank of India.

Here we list out full details in regard to those PSU banks that hit 52-week high day:

1] Central Bank of India: Shares of this PSU bank today opened upside and hit fresh 52-week high of 26.45 apiece, logging near 12 per cent intraday gain in early morning session. This state-owned bank’s stock price has been in uptrend since May 2022. In last 6 months, it has delivered nera 50 per cent return to its shareholders. This PSU stock has risen over 20 per cent in YTD time whereas in last one year, it has surged to the tune of 30 per cent.

2] Indian Bank: This public sector bank share has been climbing to 52-week high on a regular basis. It had hit 52-week high on Friday as well. It had hit fresh 52-week high on Monday, Tuesday and Wednesday last week as well. In fact, the stock has been in uptrend after ushering in 2022. In last six months, it has risen from around 155 to 275 apiece levels, delivering around 75 per cent return in this time to its shareholdrs. In YTD time, this state-owned banking stock has shot up from 140 to 275 apiece levels, recording mroe than 90 per cent rise in this period. This PSU baking share has delivered around 90 per cent return in lst one year and this is obvious as the stock was sideways before the beginning of 2022.

3] Punjab National Bank or PNB: Like Indian Bank, PNB share price has also ascended to fresh 52-week high on second straight session. Today it climbed to new 52-week high of 47.80 apiece. Like Central Bank of India, this PSU banking stock is also in uptrend since May 2022. In YTD time, it has delivered 25 per cent return whereas in last six months, it has risen from around 30 to 47.80 apiece levels, clocking to the tune of 55 per cent rise in this time horizon. In last one year, this PSU stock has shot up around 20 per cent.

4] UCO Bank: Share price of this banking stock today surged to the tune of 14 per cent and climbed to new 52-week high of 18.90 apiece. After ushering in 2022, this PSU stock remained under sideways to negative mode till June 2022. However, UCO Bank share price picked momentum in the second half of the current year and climbed to fresh 52-week high today. In last one month, this PSU bank stock has delivered 45 per cent return to its shareholders whereas in last six months, it has clocked over 55 per cent rise. In YTD time, UCO Bank share price has ascended to the tune of 35 per cent.

5] Union Bank of India: Shares of this public sector bank’s stock price has been hitting fresh 52-week highs for the last three straight sessions. Union Bank of India share price today opened upside and went on to hit fresh 52-week high of 75.80 apiece levels. Like other PSU banking stocks, Union Bank of India shares are also in uptrend since May 2022. In last six months, it has risen to the tune of 105 per cent, doubling shareholders money in recent continuous uptrend. So, this banking stocks is one of the multibagger stocks in 2022. In last one month, this PSU stock has surged more than 50 per cent whereas in last one year, it has risen more than 70 per cent.

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