Market

This public sector bank stock has risen 26% in 8 days on capital infusion optimism

Updated : December 21, 2018 06:35 AM IST

Central Bank of India shares surged 7.4 percent in intra-day trade to hit a high of Rs 35.60.

The Nifty PSU Bank index traded 0.71 percent lower with as many as 9 stocks declining against 3 advances.

This public sector bank stock has risen 26% in 8 days on capital infusion optimism

Central Bank of India shares surged 7.4 percent on Thursday on reports that the government is planning to issue Rs 40,000 crore additional recap bonds in FY19 to help shore up public sector banks (PSB).

At 10.43 am, the stock traded at Rs 35.25, up 6.33 percent. The midcap public sector bank has outperformed the banking sector by more than 6 percent, continuing its uptrend for the last 8 days.

During the period, it has risen nearly 26 percent. For the year, the stock has underperformed by 53.50 percent.

Nearly 11 lakh shares have changed hands on both indexes till 10.45 am.

The Nifty PSU Bank index traded 0.71 percent lower with as many as 9 stocks declining against 3 advances. Vijaya Bank, Oriental Bank, SBI, IDBI, Canara Bank, Syndicate Bank, Bank of Baroda, PNB traded lower.

Also, catch all the action and updates in our Market Live blog.

Disclaimer: The CNBCTV18.com editorial team does not engage in speculative or active trading in stock markets and follows its Code of Conduct on securities trading and investment. Any investor/ viewer is advised to carry out necessary diligence on their own or through a certified registered financial advisor for investment decisions.

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