PSUBNKBEES-s underlying Nifty PSU Bank has appreciated by 58.9% compare with Nifty bank 27.3% in the last five months. Nifty bank is trading its life time high. Nifty PSU Bank is trading approximately 20% away from its life time high.
When look into the stocks in this index, the major stocks SBI, BOB, CANBANK, INDIAN BANK, UNION BANK OF INDIA constitute 76% weightage did well in Q2 performance. But PNB holds 12.35% weightage is dragging the index.
PSUBANKBEES is quoting around 41 now. Its life time high is around 51. Since the majors stocks of Nifty PSU Bank index, it may slowly move towards 46-49 in Q3-Q4. But buying at 38 could be the fair price.
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