This PSU bank stock has hit record high in weak market; zoomed 121% in 1 yr

Indian Bank share price hit a record high of Rs 596.70, up 3.5% on the BSE after the S&P Global Ratings revised its rating outlook to Positive from Stable

Shares of Indian Bank hit a record high of Rs 596.70, up 3.5 per cent on the BSE in Thursday's intraday trade, in an otherwise weak market, after S&P Global Ratings reaffirmed their 'BBB-' long-term and 'A-3' short-term issuer credit ratings on the bank. The agency also revised its rating outlook to 'Positive' from 'Stable'.

The stock price of the public sector undertaking (PSU) bank surpassed its previous high of Rs 595.95 touched on May 23. In comparison, the S&P BSE Sensex was down 0.63 per cent at 74,036 at 11:34 AM.  In the past one year, the market price of