Ideally, yes, it is a good time for this type of a company to come into the market. The market size is expanding. The size of the opportunity is huge. Probably, yes, market can digest a bit of more passenger vehicle companies. Maruti has been sort of losing market share to the Hyundais and the Kias and the Hondas of the world a bit, but still it is a large company.
Analysts, however, say upsides in these shares could be limited because of rising credit costs and rich valuations. Shares of UCO Bank soared 15.23% to an all-time high of ₹60.65.
PSU stocks continue to surge, with the BSE PSU index reaching a record peak of 18,025 points. The rally is attributed to increased capital expenditure in the interim budget for 2024-2025, benefiting PSU companies.