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The PSU bank hit a fresh 52-week high of Rs 161.85 – a level last seen in December 2017. The stock remained flat in the past month but has risen more than 20% in the last 3 months.
Short-term traders can look to buy the stock now or on marginal dips as the momentum remains strong which could take the stock towards 80 in the next 3 months, suggest experts. The public sector banking stock rose more than 25% in a week, over 30% in a month, over 50% in the last 3 months and over 100% in the last 6 months, Trendlyne data showed.