PNB share price hits 52-week high, rises 80% in six months. Do you own?

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₹30 apiece levels on NSE, this PSU bank share has risen to the tune of 165 per cent in these 15 months. However, it seems that the sate-owned bank has more steam left in it. PNB share price today opened upside and went on to hit new 52-week high of ₹81.35 apiece on NSE, logging around 40 per cent rise in YTD.

In last one month, PNB share price has ascended from ₹62.50 to ₹81.35 apiece levels, delivering near 30 per cent return to its positional shareholders. In last six months, this PSU bank stock price has surged from ₹45 to ₹81.35 per share levels, logging to the tune of 75 per cent rise in this time. In last one year, PNB shares are one of the multibagger stocks that Indian stock market has produced.

In last one year, PNB share price has appreciated from around ₹36 apiece levels to ₹81.35 per share mark, logging around 125 per cent rise in this time. On why PNB share price has been skyrocketing, Sandeep Pandey, Director at Basav Capital said, "State-owned banks are getting benefit of Government of India's (GoI's) bad loan initiative. With this initiative, GoI has bailed out Indian PSU banks from the NPA pressure and now these state-owned banks are competing against private lender with ample liquidity for lending.