Tag: central bank of india

The current market sentiment is uncertain and may provide opportunities in major stocks. Here are five bank stocks that look good on the technical charts for a 10 percent upside in one month. 1. State Bank of India Likely target: Rs 530 Upside potential: 8% The shares of the banking major took support at its 50-day moving average (DMA), located at Rs 479 recently. As long as this support is defended, the positive bias may help resume an upward momentum towards Rs 530, its next major hurdle, according to the daily chart. The Moving Average Convergence Divergence (MACD) has reached near the zero line and if shows a similar reversal like stock price, the direction and leadership may show an aggressive bullish sentiment. Read more

Two state-run banks shortlisted by the NITI Aayog-Central Bank of India and Indian Overseas Bank (IOB)-may be privatised by the Centre, according to the sources. The report further added that the Bank of India could be a potential candidate for privatisation too. NITI Aayog had submitted the names of the two state-run banks and one general insurer to the committee of secretaries on disinvestment. The announcement regarding the privatisation of these banks was made in the Union Budget of 2021-22. The proposal is being vetted by DIPAM and the department of financial services, according to the sources. The Centre has budgeted a target of Rs 1.75 lakh crore from stake sale in the current fiscal. It also aims to conclude the privatisation of Air India, BPCL, and Shipping Corporation the process for which has already started in the current fiscal.