Buy Indian Overseas Bank; target of Rs 150: IIFL

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Buy Indian Overseas Bank; target of Rs 150: IIFL

IIFL is bullish on Indian Overseas Bank (IOB) and has recommended buy rating on the stock with a target of Rs 150 in its July 14, 2011 research report.

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IIFL is bullish on Indian Overseas Bank (IOB) and has recommended buy rating on the stock with a target of Rs 150 in its July 14, 2011 research report.

"Indian Overseas Bank (IOB) rallied above its 100 and 200-DMA with impressive volumes. Also, the stock made an attempt to cross above the upper end of the trading range. A move above Rs 143 would lead to a breakout from the range bound trading pattern. If the stock holds up above the levels of Rs 145 today, it can post huge upside in the coming trading sessions. We recommend high risk traders to buy the stock above Rs 143 for target of Rs 150. Maintain a strict stop loss of Rs 140," says IIFL research report.

FIIs holding more than 30% in Indian cos

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