BoB, PNB hit fresh 52-week high, regain Rs 50,000-crore market cap

In the past one month, the stock of Union Bank of India, Canara Bank, Bank of Baroda and Punjab National Bank have rallied between 25 and 44 per cent

Shares of Bank of Baroda (BoB) and Punjab National Bank (PNB) hit fresh 52-week highs, regaining Rs 50,000 market capitalisation (m-cap) on Tuesday on the back of a stable outlook.

Individually, BoB rallied 6.5 per cent to Rs 102.85 on the back of heavy volumes. The stock of state-owned lender has outperformed the market by surging 35 per cent in the past one month, as against the S&P BSE Sensex, which has gained 2.5 per cent during the same period.

At 09:59 am, BoB was trading 5 per cent higher at Rs 101.40, relative to the Sensex's 0.66