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Last Updated : Nov 30, 2015 03:20 PM IST | Source: CNBC-TV18

Book out of IDBI Bank, says Ambareesh Baliga

Ambareesh Baliga, Independent Market Expert is of the view that one can book out of IDBI Bank.

Ambareesh Baliga, Independent Market Expert told CNBC-TV18, "The way IDBI Bank has moved from the levels of Rs 50-60 to its current level, already more than 50 percent up, I think it has already discounted that the fact that it has become Axis Bank. So, at these levels, the risk levels are very high and the other question which we are asking here is about the low float because of which possibly the momentum can take it up. It is more of a speculative pick at this point in time. As an investor, I think if someone has bought at Rs 55-60 levels, this is a great level to book-out to certain extent, or if possible, fully."

At 15:09 hrs IDBI Bank was quoting at Rs 93.55, up Rs 7.15, or 8.28 percent. It has touched a 52-week high of Rs 95.10.

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First Published on Nov 30, 2015 03:20 pm
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