homephotos Newsmarket Newsstocks NewsThese six PSU bank stocks are among the biggest wealth destroyers in last 5 years

These six PSU bank stocks are among the biggest wealth destroyers in last 5 years

SUMMARY

The shares of state-run banks have emerged as major wealth destroyers for investors in the last five years, with six out of the top 20 losers being PSU banks. Among the banks, Indian Overseas Bank, UCO Bank, United Bank of India, Andhra Bank, Oriental Bank of Commerce, and Allahabad Bank lost between 71-87 percent since 2014. Other losers included Reliance Communications, Jaiprakash Associates, Reliance Power, Reliance Infra, down over 90 percent each in the given period.

By Pranati Deva  Jun 11, 2019 2:00:14 PM IST (Published)


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Indian Overseas Bank: Shares of the public sector bank fell 86 percent to Rs 11 per share on BSE in the last 5 years. The stock has underperformed Sensex as well as Nifty PSU Bank index in the last 1 year.

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UCO Bank: The stock fell over 83 percent to Rs 17.6 per share on BSE in the last 5 years. The stock hit its all-time high of Rs 152 on November 22, 2010, and an all-time low of Rs 14.30 on July 19, 2006. It has plummetted over 88 percent from its all-time.

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