Day's Movers: These PSU Banks were among the sectoral gainers on October 17

These BSE Group A PSU stocks rallied on the bourses.

On October 17, the Sensex closed up by 0.9 per cent or 491 points at 58,410.98 while BSE PSU gained 1.4 per cent or 125.7 points and closed at 8,951.91. 

  Indian Bank, Bank of Maharashtra and Canara Bank witnessed positive action in today’s session  

 The shares of Indian Bank zoomed 6.76 per cent in today’s session and closed at Rs 205.25. The shares of the company logged intra-day highs and lows of Rs 205.50 and Rs 191.60. Expectations of strong operational performance led to the rally in these PSU stocks in today’s session. Shares of Indian Bank logged a 52-week high on October 13 at Rs 211. 

Bank of Maharashtra (BOM) gained 5.01 per cent in today’s session and closed at Rs 18.85. The PSU bank announced that in Q2FY23, its Gross Advances increased by 28.62 per cent to Rs 148,216 crore and Net Interest Income increased by 25.84 per cent on a YoY basis to Rs 1,887 crore as NIM improved to 3.55 per cent as on September 30, 2022. Shares of BOM logged an intraday high and low of Rs 19 and 18, respectively.  

Canara Bank Ltd gained as much as 4.72 per cent in today’s session and closed at Rs 237.35. In intraday trades, the stock logged highs and lows of Rs 238.05 and Rs 223.30. This PSU bank will announce its Q2FY23 on October 20.