In this section here on 16th February, we carried an article, “Which 2 Public Sector Banks to get privatised in FY 2022?”. In this article we gave names of IDBI Bank and Bank of Maharashtra (BoM), as 2 probable PSBs to get privatised by the Govt in FY22.
On 1-3-21 share price of IDBI was ruling at Rs. 31 and now at Rs. 38, but made high of Rs. 45 on 12th March, having risen by 22% in this month, with 45% rose by mid March. In this week, IDBI closed at Rs. 38 on all 4 days, when all other bank stocks have taken a huge beating. Share price of BoM, then was ruling at Rs. 16 and now at Rs. 21, having risen by 31% in last 1 month and rose to Rs. 25 on 12th March as well.This is not an end of the story, as more upside potential on both stocks are seen over the next 6-8 months, as Finance Ministry is amending Banking Regulation Act, in this Budget Session, of allowing Govt to priavatise few PSBs.
This is also to corroborate to our article carried here in this section last week, stating how difficult it is to find out such calls, while if they turn out to be true, can become multibagger in 6-12 months only, which otherwise need to 5-7 years horizon.
Research, with sincerity, hard work and vision really works. Conviction, faith and patience on such calls then give mind boggling gains to the investors.
This is not a buy recommendation, while stock recommendations are provided exclusively to our paid members in the Member Zone.