Union Bank of India share price rose as much as 6.8 percent to its intraday high of ₹150.70. It is now just 3 percent away from its 52-week high of ₹155.30, hit on February 5, 2024, and has surged 150 percent from its 52-week low of ₹60.32, hit on March 28, 2023.
Aveek Mitra discusses investments in renewables, LNG, and PNG, focusing on suppliers in the private space. He mentions Kotak s caution on expensive PSUs and the rally in defence PSUs. Mitra is optomistic about renewables and mentions potential peripheral companies like Inox Wind Energy, Suzlon, Genus Power Company, and Sterling and Wilson. He shares his view on PSU banks versus private banks, noting the improvement in PSU banks balance sheets and stability.
State Bank of India tops the chart with mcap of around Rs 5.8 lakh crore followed by Bank of Baroda with mcap of Rs 1.33 lakh crore and Punjab National Bank 1.33 lakh crore. Union Bank of India mcap stands at Rs 1.1 lakh crore.
Index returns by 12-stock Nifty PSU Bank is to the tune of 32% over a 1-year period which is higher than 11.36% returns delivered by Nifty Bank and 19.57% by broader Nifty50.