City Union Bank has hit a new 52-week high today at Rs.61.60, with an over 2.5 times jump in volumes. It has come off the highs but remains around Rs.60.

The stock is up after RBI gave its nod to hike its stake in the bank up to 35%. As at 31st March 2014, they held a stake of 21.54%.

RBI has also stated that for FII/RFPI/QFI and NRI under Portfolio Investment Scheme, individual ceiling shall be 5% respectively and aggregate limit for all RFPI/FII/QFI shall be 35%.