IOB and CBI hit new highs

The buzz around two PSU bank divestment is giving wind to a lot of speculation, we saw that last week and today too. Yesterday late evening, there was news that the two candidates have been finalized – Indian Overseas Bank and Central Bank of India.

The unconfirmed news is that these banks might see a 51% stake sale in the first phase.

This news was enough and both the stocks today among the top five gainers on the BSE, went on to hit a new high. CBI went on to hit a new 52-week high at Rs.28.30 and IOB at Rs.27.95.

For more insight into the veracity of this news, read - https://www.sptulsian.com/f/mg/2-PSB-for-Privatisation--Now-a-TV-Channel-with-chequered-history-is-flashing-it