Trending PSU Bank: Bank of Maharashtra soars nearly 7 per cent
In 2021 BOM has been a consistent performer with the stock gaining in prices in 5 out of 6 months.
PSU banks have been outperforming its private bank peers in 2021 with several PSU Banks showing improvement in fundamentals.Bank of Maharashtra (BOM) is one of those PSU banks showing remarkable improvement in fundamentals and the stock prices are merely reflecting the same on the bourses.
BOM is up by nearly 7 per cent on bourses today as the markets attempt to stay in green after falling in the early hours of the trade.
Jammu & Kashmir bank is the top PSU bank gainer up by 20 per cent with only buyers in the scrip and no sellers willing to part with the shares.
BOM, a pune based state owned bank, has topped PSU bank chart in MSME loan growth in FY21. BOM recorded a 35 per cent growth in MSME loans at Rs 23,133 crore in 2020-21. There is growth seen even in retail loans, considered to be most profitable advances for lenders. The retail loans grew by 25.61 per cent for BOM, thus beating the loan growth of State Bank of India as well. BOM declared net profits for the full year at Rs 550.25 crore, a jump of 42 per cent.
BOM is up by nearly 95.96 per cent on YTD basis while the stock is up by 133 per cent in one year’s time. In 2021 BOM has been a consistent performer with the stock gaining in prices in 5 out of 6 months.