Shares of State Bank of India (SBI) have surged nearly 17% this month, marking its largest monthly gain since January 2022. The stock has risen approximately 33% since December, demonstrating robust growth in less than three months.
On the daily charts of Tech Mahindra, we are observing a strong positive price action with high volume. Further, momentum indicator viz. RSI is positively poised.
Among PSU banks, says Axis Securities, SBI remains the best play on the gradual recovery of the Indian economy on account of its healthy PCR, robust capitalisation, strong liability franchise, and improved asset quality outlook.