2 PSB for Privatisation - Now a TV Channel with chequered history is flashing it

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The Union government is likely to bring amendments in Banking Regulations Act and Banking Law Act during monsoon session to privatise the two-state run banks. NITI Aayog has shortlisted Central Bank of India and Indian Overseas Bank for divestment, according to CNBC Awaaz.

Also read -  Privatisation plans for Central Bank of India, Indian Overseas Bank likely to face hurdles: Analysts.

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This is the news piece carried on the financial portal, being associate of this TV Channel. Second para of this piece totally negates the first para, on which gullible investors seen having played. In the past we have seen one senior editorial member of this channel having made crores of rupees by front running on calls given on TV Channel, and subsequently barred by SEBI.

Yesterday, Central Bank saw cash volume of 3.71 cr shares and IOB saw of 3.16 cr shares, based on this news. We carried a piece here on 8th June, giving reasons that why both banks can't get privatised, while we hold the same view.

These channels will make you sell Adani Ports below 700 and will make you buy these PSBs or RIL above 2,200:).

It is irony that many of our impulsive members want us to certify or clarify on this piece, which is impossible for any sane analyst to do.
Keep fingers crossed, as time only will reveal the truth.

This is not a buy or sell recommendation, while stock recommendations are provided exclusively to our paid members in the Member Zone.