Buy IDBI
1.IDBI's equity is close to Rs 680 crs and on the basis of earning.
2.Today SAFA in an official communiqué has announced that the recovery out of NPA for IDBI in the current year is Rs 5000 crs, which IDBI will get. This is huge Rs 74 per share in cash for IDBI.
3.IDBI is also set to make holding co la SBI and ICICI Bank which as per our sources is set to be cleared within next 30 to 60 days. as Per sources the insurance biz too will get handsome valuations.
With strong base,buy IDBI..
For Short term investment target of Rs 195+ in 3 months
For Long term investment target 445+ in 12 months
