Indian Overseas Bank can test Rs 160: Kotak

Indian Overseas Bank can test Rs 160 in near term, says Kamlesh Kotak, Vice President-Research, Asian Markets Securities Private Limited.

June 20, 2011 / 15:38 IST

live

bselive
nselive

Volume

Todays L/H

Indian Overseas Bank can test Rs 160 in near term, says Kamlesh Kotak, Vice President-Research, Asian Markets Securities Private Limited.

Kotak told CNBC-TV18, "Indian Overseas Bank has post strong result in Q4 FY11 and we see similar situation for FY12 Q1. The reason being the company has been aggressively providing for the pension liability, which is higher than the mandated one, which will see moderation of provisioning going forward.

first published: Jun 20, 2011 02:40 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347