Hold Indian Overseas Bank With Stop Loss Of Rs 103

Hold Indian Overseas Bank With Stop Loss Of Rs 103Stock market analyst Mileen Vasudeo has maintained 'hold' rating on Indian Overseas Bank stock to achieve a target between Rs 125-127.

According to analyst, the investors can hold the stock with stop loss of Rs 103.

Today, the stock of the company opened at Rs 110.50 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 8.78 and 12.56 respectively.

The share price has seen a 52-week high of Rs 141 and a low of Rs 79 on BSE.

According to the central bank norms, the board of Indian Overseas Bank (IOB) has fixed the base rate at 8.25%, which is applicable wef July 01.

The RBI has conditioned that all banking institutions should arrive at a base rate for lending under which no loans can be broadened.

According to new regulations, subsisting clients will have to relocate to the base rate when their loan deal comes up for renewal.

The new regulation doesn't affect finance companies, comprising mortgage finance companies.