Update on IDBIBANK- Cmp Rs.195

Update on IDBIBANK- Cmp Rs.195 Buy given @ Rs.102 near to double in 16months.

On Saturday, August 29, 2009 we Posted IDBI @ Rs.102 for Break-out(Short Term) and http://akprabhakar.blogspot.com/2009/08/idbi-break-out.html  Long Term Target for the stock Rs.170-200 in 18-24months.

Now Target has been reached but there is no weakness yet in the stock and technically stock can move towards Rs.265-280 in next 8-12months and 3years target can be Rs.400 also.

Technically stock has made all time new high on 28th October 2010, Breaking previous High made in November 2007 Rs.181 after 36months or 3years time.

IDBI is a PSU Bank with a difference being a new generation bank http://www.idbi.com/  Face value Rs.10 Book Value Rs.115. IDBI Bank holds a significant stake includes NSE, LIC, IDFC, IFCI, NSDL, CARE, ARCIL, SHCIL and SIDBI to name a few and if these holding are taken in current market value then stock quotes below book value. Bank has a network of 759 Branches and 1295ATMs and plans to roll out another 300 branches during FY 2010-11. http://www.idbi.com/branches1.asp

IDBI analyst presentation

http://www.idbibank.com/pdf/IDBIBanksept%2010PresentationtoAnalysts.pdf

Aspiring to become the 5th largest Bank by 2012 in terms of assets and market capitalization

http://prabhakar-views.blogspot.com/  Look at the Other Side

http://prabhakar-views.blogspot.com/2010/02/caution-to-investors-from-sebi.html  The following caution is issued by SEBI in the interest of investors. Be extra cautious while using information available from media sources such as Websites/ Blogs/ Newspaper Advertisements/ SMS’s Emails/rumours/ advice through television or print media for information and tips for intra-day, short term or long term investing.