PSU Banks have resumed their winning streak, marking the third consecutive session of gains in Thursday's trading. All 12 constituents of the Nifty PSU Bank index are currently trading positively, with Bank of India and UCO Bank leading the pack. The Nifty PSU Bank index surged by 2.88% to reach 7,133 points. Canara Bank shares soared to a new record high of ₹594.7 each, marking an almost 5% gain. The stock has been on a robust upward trajectory since the bank's Q3 result announcement on January 24, with today's rally pushing its returns to a remarkable 104% in a year. Similarly, Bank of Baroda shares reached a new record high of ₹277 apiece in today's session, registering a gain of 3.50%. The bank has witnessed steady growth since the release of its Q3 numbers, with a significant jump of 12.40% in shares during the last week of January and a 19% increase in CY24 so far. State Bank of India (SBI) shares also surged by 2.43%, hitting a new all-time high of ₹761.5 apiece in today's session. Motilal Oswal, a domestic brokerage firm, has retained its 'buy' call on the stock with a target price of ₹860 apiece. The brokerage underscores SBI's consistently strong performance in recent years, achieving new milestones such as surpassing ₹500 billion in PAT in FY23. "Opex has been elevated due to high wage and pension provisions affecting PPoP growth; however, we expect earnings to gain traction from FY25 onwards after this opex blip," noted the brokerage.