Street signs: PSU banks in demand, dip in Symphony stocks and more

India's leading air cooler maker Symphony has witnessed an unusually hot summer with its stock falling more than 20 per cent in the past month

PSU banks in demand

The Nifty PSU Bank index rose 11 per cent last week, its biggest weekly gain since October 2017 after the Centre had announced recapitalisation. The latest surge comes after the leader of the pack - State Bank of India (SBI) - suggested that the worst of bad loan could be over. The bank’s chairman said this fiscal will be the year of hope and the next fiscal could be one of happiness. The Nifty PSU index had dropped 60 per cent from its 2018 peak following the fraud at Punjab National Bank (PNB). The index has retraced