9 PSU banks hit fresh 52-week high as Cabinet approves new NPA policy

Andhra Bank, BOB, Canara Bank, PNB, Indian Bank, Oriental Bank and Corporation Bank hit 52-week high

Shares of public sector undertaking (PSU) banks are in focus with the market price of nine banks hitting their respective 52-week highs on the National Stock Exchange (NSE) after Cabinet approved new non-performing assets (NPA) policy to deal with stressed assets.

Andhra Bank, Bank of Baroda, Bank of Maharahstra, Canara Bank, Punjab National Bank, Indian Bank, Oriental Bank of Commerce, Syndicate Bank and Corporation Bank hit their respective 52-week highs on the NSE. State Bank of India (SBI), Bank of India and Vijaya Bank are trading close to their 52-week highs.

At 09:37 pm; Nifty PSU Bank index,