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Why Indian Bank may remain one of the favoured PSB stocks
April 29, 2017
- Shares of Indian Bank rallied as much as 12% in Tuesday’s trading session after the bank announced its December quarter result, making it the third most expensive public sector bank after State Bank of India and Bank of Baroda based on FY18 Bloomberg estimates for book values.
- Indian Bank now command price to book multiple of 0.98 compared to many PSBs still trade at half of their book values.
- While the performance of Indian bank on parameters like asset quality has been better than some it’s PSB peers in the last one year, there are several factors that has enthused investors to push the stock to an all-time high on Tuesday.
