In a span of just two trading sessions on Oct 31 and Nov 1, several government owned banks have jumped anywhere from 15-30%. Hopes that asset quality would improve going forward following and exceptional results from Bank of India have propelled these stocks. These are now emerging as a speculator and investor favourite. Take a look at 5 stocks that have jumped substantially.
Good set of Q2 numbers
A fall in the non performing assets of Bank of India in its Q2 numbers has pushed the stock higher by 30 per cent in just two trading sessions. Bank of India which was trading at Rs 173 on Oct 30 has jumped to Rs 220 on Nov 1.
A 20 per cent jump in two trading sessions
Although the bank's Q2 numbers were not exceptional the stock has run along with other PSU banking stocks. Bank of Baroda shares have jumped almost 20 per cent in two trading sessions from Rs 577 on Oct 30 to Rs 671 on Nov 1.
A bank whch has managed asset quality better
Syndicate Bank is one of the better PSU banks when compared to non performing assets and valuations. The stock has jumped from Rs 74.75 in Oct 30, to Rs 86.45 on Nov 1.
A beaten down stock
This is one stock that has been beaten down badly in the past one year or so. The stock along with peers from the banking sector has risen from Rs 151 to Rs 194 in two trading sessions.
A sharp jump in share price
Union Bank has rallied from Rs 115 to Rs 134. The results have not been extraordinary but sudden investor interest has pushed the stock higher.