IOB.NSE Indian Overseas Bank
751
71.15
3.65
(4.88%)
| Watchers | 751 |
| 52-Wk Low | 23.70 |
| 52-Wk High | 83.75 |
| Market Cap | 1.27T |
| Volume | 59.55M |
| 52-Wk High | 83.75 |
| 52-Wk Low | 23.70 |
Nifty PSU Bank index rallies 2.5% as public lenders may oppose RBI's proposed norms on infra project financingMoneycontrol • 20 days ago
Analysts at Macquarie said that the RBI's proposed norms are 'onerous' and, if implemented, they can dampen recovery in project finance or capex cycle.
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On the higher side, resistance for the Nifty is seen in the range of 22,700-22,775. The upside momentum is likely to accelerate once the all-time high of 22,775 is taken out.
After the sustained run in these stocks, analysts have been cautioning investors. While a section of the market continues to believe the re-rating in state-owned companies as a whole was very much warranted, some have turned skeptical.
Looking forward, immediate resistance levels for Nifty are identified at 21,850, with an additional hurdle at 22,124, representing the life high level. On the downside, crucial support levels lie at 21,350 and 21,100.
BoB's Joydeep Dutta Roy has been appointed as executive director of IOB.
RBI on November 16 said that it has increased risk weight by 25 percent on consumer credit exposure of commercial banks and non-banking finance companies (NBFCs).