3 Public Sector Banks Whose Stocks Have Risen 21-31% in 1 Month

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3 Public Sector Banks Whose Stocks Have Risen 21-31% in 1 Month

By Aditya Raghunath

Investing.com -- Multiple media reports, over the weekend, have said that Niti Aayog has submitted two shortlisted banks to the Core Group of Secretaries on Disinvestment as the best options for privatization.

While one of the banks, Central Bank of India Ltd (NS: CBI ), finds a mention in all media reports, they are divided over the second bank. It could either be Bank of Maharashtra Ltd (NS: BMBK ) (BoM) or Indian Overseas Bank (NS: IOBK ) (IOB).

A report in The News Minute said, “Sources said that the Department of Investment and Public Asset Management (DIPAM), and the Department of Financial Services (DFS) will examine the names suggested by NITI Aayog and finalize the list of possible candidates in the financial sector for privatization this year.”

All three banks have seen their share prices go up by 21-31% since April 30. Central Bank of India has moved up 30.67% from Rs 16.3 on April 30 to Rs 21.3 on June 4. BoM closed June 4 on 29.05, up 20.8% from its closing price of Rs 24.05 on April 30. IOB moved up 22.6% from Rs 15.7 on April 30 to Rs 19.25 on June 4.

This is the second time this year that all three banks have seen a surge in their stock prices. They had similarly moved up in February after privatization news broke out.

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  • Prakhar Gupta @Prakhar Gupta
    I think BOB could also move upwards
    Like 3
  • kanna dhasan @kanna dhasan
    mmm good👍
    Like 1

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