The stock has made consecutive 52-week high levels over the past five trading sessions.

Shares of Punjab & Sind Bank, the top BSE Smallcap gainer, soared nearly 20 per cent to a new 52-week high.

With the majority stake held by the government, these companies are comparatively less volatile and stable in market actions.

PSU banks are an attractive play on the growing Indian economy as these banks have strengthened their balance sheet by fully providing for stressed accounts. The focus on improving underwriting practices is reflected in controlled slippages.