RBL, IDBI Bank surge up to 10%; Karur Vysya, Federal Bank hit 52-week highs

Union Bank of India, Bank of India, Canara Bank, Punjab National Bank, Indian Overseas Bank, Uco Bank, Central Bank of India, and Bank of Baroda from the PSUpack were up 2-5%

Shares of select mid and small-sized banks rallied up to 10 per cent on the National Stock Exchange (NSE) in Thursday’s intra-day trade on the back of heavy volumes.

RBL Bank, DCB Bank, Equitas Small Finance Bank, South India Bank, Citi Union Bank and IDFC First Bank from the private sector gained between 3 per cent and 10 per cent.

Karur Vysya Bank (up 9 per cent at Rs 69.40) and Federal Bank (up 2 per cent at Rs 116) hit their respective 52-week high. Late billionaire investor Rakesh Jhunjhunwala held over 3 per cent stake in both