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ā¢ Public sector banks have been outperforming private sector banks in terms of returns, with the Nifty PSU Bank index giving a staggering 28% returns in the last quarter.
ā¢ Foreign portfolio investors have increased their stake in 13 out of the 14 listed public sector banks, with Canara Bank, Punjab National Bank, and Union Bank of India seeing the maximum rise in FII holding.
ā¢ The shift in bets from private to public sector banks has been a valuation play historically, but public sector banks have seen a structural change in their financial health, leading to a re-rating in the stock market.