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Domestic stock markets have seen a sharp recovery in last few months amid sustained economic rebound and robust consumer sentiments. Banks have been an obvious beneficiary of these upbeat trends and the BANKNIFTY index has soared around 7.7% in last three months. The index has jumped around 10% in last one year, approaching record highs around 60K mark in first week of December. However, in terms of individual components, the performance has been choppy. Top banks like SBI and ICICI Bank have surged around 21% and 6.50% respectively in this year while HDFC Bank is up around 11%. The honours of top performing bank from BANKNIFTY index have gone to AU Small Finance bank which is up around 72% on year-to-date basis. The shares of AU Small Finance Bank hit an all-time high above Rs 1000 in mid-December, marking an awesome journey for the counter.
The latest spike came after the ministry of Finance increased the foreign investment limit in AU Small Finance Bank to the maximum ...
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