"Other than IDBI Bank, we propose to take up the privatization of two Public Sector Banks and one General Insurance company in the year 2021-22" stated by Union Finance Minister Ms. Nirmala Sitharaman said in her budget speech on 1st February. On 16th February and therafter, we carried 3-4 articles on expected PSBs to get privatised.
For General Insurance, we expect this to happen with National Insurance Co. Ltd. (NICL), an unlisted company, in which Govt is holding 100% stake. This assumption is made on basis of "Read Between The Lines" concept. NICL is presently one of the promoter of Axis Bank, holding about 5.50 lakh shares, being 0.02%, a miniscule stake, now worth Rs. 40 crores, has requested Axis Bank to treat them as Non Promoter, from promoter, which has been approved by Axis Bank as well.
However, we see no opportunity for retail shareholder to play on this theme, as NICL is an unlisted one.
So, only option and best course for retail investors are to play on 2 PSB privatisation theme, as all PSBs are presently listed. If this call proves right, can give multibagger gains in this Financial year itself.
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