 "Time will tell if PSBs are mispriced stocks or a value trap: Analysts")
When Canara Bank announced its qualified institutional placement (QIP) at Rs 103.5 apiece last week, critics questioned if a public sector bank (PSB) can go to the market by itself. After all, direct market equity sourcing has just been aspirational for a long time and turning to the government for recapitalisation is an easier option for PSBs. But Canara Bank’s successful fundraising has made heads turn. From Rs 94 a share a month ago to a little of Rs 125 now, the stock has surprised investors.
It’s also a good sign as Punjab National Bank (PNB) is preparing to raise Rs
