Except for Punjab National Bank, the brokerge has ‘Buy’ rating on the remaining five PSU bank stocks under its coverage. They included Indian Bank, Union Bank, Bank of Baroda, SBI and Canara Bank.
The PNB stock eventually settled 1.48 per cent higher at Rs 91.24. At this price, turnover on the counter came at Rs 38.61 crore, commanding a market capitalisation (m-cap) of Rs 1,00,464.51 crore.
Stating the return ratio on the comeback path, domestic brokerage firm Sharekhan maintained its Buy rating on the stock with a target price of Rs 105, which indicates an upside potential of 17% from the current market prices.
Bharat Heavy Electricals Ltd, Punjab National Bank Ltd, Oberoi Realty and Jindal Stainless Ltd would be required to broadly maintain their prevailing price levels to enter MSCI Global Standard Index in the February review.
Rail Vikas Nigam Ltd soared 332 per cent, Ircon International Ltd surged 260.75 per cent while Indian Railway Finance Corporation Ltd (IRFC) jumped 245 per cent since last Diwali.