The Government of India is now preparing to reduce its stake in select government banks. This will not only increase the money in the treasury of the government, but also the common investors can also benefit. People associated with the stock market are saying that this can bring new life to the shares of these banks and the common man can get a good opportunity to invest. Which banks are in this list, and what are the important levels of their shares, let’s tell-
Sanyam Vaish, registered with SEBI, has told about five such government banks who should pay the most attention at this time. Stocktwits.com has published a report about this. According to this report, Vaish believes that by reducing the government’s share, there will be more liquidity in the shares of these banks, big institutions will invest and this can increase the share prices in the coming time. But investors should monitor the increase in volume and delivery of the stock during this period.
1. Bank of Maharashtra (BOM)
Bank of Maharashtra is known for its strong fundamentals and skills. The government’s stake in this is more than 86 percent. If the government reduces the stake, then big investors can take interest in this bank, which can increase the share price. According to analysts, its support is Rs 59 and Rs 66 can be a breakout point of its share.
2. Indian Overseas Bank (IOB)
Indian Overseas Bank has already been a fluctuating bank, but the possibilities of improvement in it are being told. The government has a 96% stake in this and if private investment comes, its stock can also perform well. According to experts, its support is Rs 39 and resistance is Rs 45.
3. UCO Bank
The specialty of UCO Bank is a strong hold in its rural areas. The government holds about 95.4 percent stake in it. If the share is reduced, then its business in the stock market may increase. Market analyst says that its support can be Rs 32 and the breakout zone of Rs 36.
4. Central Bank of India
The network of Central Bank of India is spread across the country, and it has been included in the discussion of privatization earlier. The government has about 93 percent stake in this. If the share is low in it, then its stock can also be strongly bounced. Analysts consider Rs 44 to be supported and Rs 51 as a big resistance.
(Disclaimer: This news has been published on the basis of the ideas and analysis of experts. Based on this information, consult your certified Investment Advisor before taking any decision.
