Stock analyst E Mathew is of the view that IDBI stock will provide hefty gains in the short run.
Presently (1:00 pm), the stock is trading 0.6% down at Rs 173.40.
Mr. Mathew has suggested investors not to sell IDBI stock before achieving a short term target between Rs 190-200. Traders should use Rs 163 as a stop loss. The stock can be bought in the range of Rs 167-169. Don’t buy it on upper levels.
IDBI has seen a 52-week high of Rs 181 on Bombay Stock Exchange. The P/E is 19.46, and EPS stands at Rs 8.96.
It seems that IDBI will touch another yearly high in the said time period. So keep the stock for at least 3-4 weeks.