Shares of PSU banks have rallied up to 24% thus far in FY26; here's what technical charts suggest for Bank of India, Indian Bank, Bank of Baroda, PSB and Central Bank of India.
At 10:22 AM; Nifty PSU Bank index, the top gainer among sectoral indices, was up 1.8 per cent, as compared to 0.19 per cent gain in the Nifty 50 on Monday.
From the April swing low near 1180 to the June peak around 1700, the Tech Mahindra stock saw a strong rally, followed by a month-long price correction.
Foreign investors net sold ₹14,452 crore, and ₹25,831 crore in stock & index futures, respectively in July; however, F&O rollovers hint at likely optimism going ahead.
Indian Bank plans to raise ₹5,000 crore in FY26, with a focus on enhancing capital adequacy and introducing its own UPI app, IND-UPI. Net profit rose by 23.69% in Q1 FY26
Indian Bank reports a 24% increase in Q1 net profit, alongside improvements in asset quality, NPA reduction, and robust growth in key financial metrics
Indian Bank's consolidated net profit dips 11.4% in Q1 FY26, while standalone net profit rises 24%, with improvements in asset quality and advances
Indian Bank's total amount of net non-performing assets stood at ₹1,035.56 crore in Q1 FY26, down 48.91 per cent from ₹2,026.59 crore a year ago
At 01:49 PM, the Nifty PSU Bank index, the top gainer among sectoral indices, was up 1 per cent, as compared to a 0.50 per cent decline in the Nifty 50
Around 12 PM, the Nifty PSU Bank index was up 0.45 per cent, as compared to a 0.43 per cent decline in the Nifty 50
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PSU Bank shares in focus: At 10:37 AM; Nifty PSU Bank index was the top gainer among sectoral indices, up 2.4 per cent, as compared to 0.3 per cent decline in the Nifty 50.