Stocks of public sector banks are on the rise today. At 2:42 p.m. India time, Nifty PSU Bank Index was up by more than 4%. Nifty 50 index was down by 0.18% in the day, by this time. BSE Sensex was down by 0.22%. Stocks of PSU Banks currently trade at an average Price-to-Earnings (P/E) ratio of 7.94, at NSE. This is the lowest P/E ratio among all sectoral indices at NSE. The low P/E ratio makes some of the PSU bank stocks an attractive buy proposition. The prevailing high interest rate environment also suits them.