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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.

Jio Financial shares ended 14% higher on BSE on Monday following a media report stating that Jio has been in talks to buy the Paytm wallet business since November. Citing sources, the report had said as part of a larger bailout plan, Jio may offer to acquire Paytm Payments Bank.

The stock quoted a 52-week high of Rs 30710.15 and a 52-week low of Rs 22601.3.

In fact, this entire PSU rally that we have seen for almost now about six months or so, it has been quite surprising for a lot of us. Though we might feel that because of the sheer price move that has happened, all the valuations are looking stretched.

Rashi Peripherals IPO will open for subscription from February 7 to February 9. Rashi Peripherals is a fast-growing distribution partner for global technology brands in India, offering value-added services. The IPO is a fresh equity issue of Rs 600 crore, with a price band of Rs 295-311 per share.

The first quarter posed challenges for Indian indices with the Hindenburg research report, the hawkish Fed, and the SVB crisis. The budget sparked hope, laying a foundation for sustainable domestic growth, albeit with the removal of indexation benefits on debt instruments.

The Relative Strength Index of the stock stood at 55.52 on Tuesday.