PSU Vs Private banking stock: The time when stock market investors were busy wondering who is better among HDFC Bank or ICICI Bank shares? Where will you get higher returns by investing? At the same time, investors who showed smartness and placed bets on PSU Bank shares, ignoring the shares of private banks, made huge profits. Yes.. In terms of making profits, or rather, the shares of government banks are far ahead of private banking stocks in giving excellent returns.
In the last one year, the Nifty Bank index has given returns of more than 8%, better than FDs. At the same time, Nifty PSU Bank Index has performed well with 35 per cent return. On a year-on-year basis, the PSU Bank index has gained over 8 per cent against the flat Nifty Bank.
Which banking stock gave how much return in the last one year?
By the way, ICICI Bank stock is one of the preferred banking stock for investors. But this banking stock has given only 23.74% returns in the last one year. At the same time, HDFC Bank stock has given zero returns in the last one year and this stock has lost 2.15% to its investors in the last one year. The stock of Kotak Mahindra Bank has given a return of only 2.34% in a year. At the same time, the shares of Bandhan Bank have given a return of just 1.14%.
If we talk about PSU stocks, then the shares of PSU Bank have given better returns to their investors during this period. SBI shares have given a return of 40.28% in one year. At the same time, the stock of Bank of Baroda has given a strong return of 69% in the last one year. Shares of Canara Bank have given a tremendous return of 65.12% to its investors in a year, while the shares of Indian Bank saw a rise of 48.64% in the last one year.
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Big Bull also invested in Canara Bank
The big bull of the market, Rakesh Jhunjhunwala, also has a big bet on Canara Bank shares. Jhunjhunwala has increased his stake in Bangalore-based Canara Bank in the current financial year. Explain that Canara Bank is the third largest nationalized bank in India owned by the Government of India. Jhunjhunwala saw an inclination for this banking stock in August last year and has since increased his stake in it to the best of his ability. As of March 2022, Jhunjhunwala has increased his stake in Canara Bank to 35,597,400 equity shares or 1.96%.
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Jhunjhunwala’s stake in Canara was 29,097,400 equity shares or 1.6% in the previous quarter (October to December 2021). Jhunjhunwala bought Canara stake in August 2021 with 28,850,000 equity shares or 1.59%. He increased his stake to 29,097,400 equity shares or 1.6% in the September 2021 quarter, but kept it unchanged till the third quarter of FY22. With this, Jhunjhunwala’s shareholding in Canara Bank has increased by 0.36% on a quarter-on-quarter basis.