Bank of Maharashtra spurts 5.35%, rises for third straight session

Bank of Maharashtra rose for a third straight session today. The stock is quoting at Rs 86.07, up 5.35% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.23% on the day, quoting at 24277.5. The Sensex is at 77643.06, down 0.02%. Bank of Maharashtra has added around 6.75% in last one month.

Meanwhile, Nifty PSU Bank index of which Bank of Maharashtra is a constituent, has added around 3.97% in last one month and is currently quoting at 8603.65, up 1.08% on the day. The volume in the stock stood at 445.78 lakh shares today, compared to the daily average of 104.81 lakh shares in last one month.

The benchmark September futures contract for the stock is quoting at Rs 86.89, up 5.73% on the day. Bank of Maharashtra is up 63.85% in last one year as compared to a 0.91% fall in NIFTY and a 28.29% fall in the Nifty PSU Bank index.

The PE of the stock is 8.44 based on TTM earnings ending June 26.