Hold Indian Overseas Bank, says Vishal Malkan

Vishal Malkan of malkansview.com told CNBC-TV18, "In Indian Overseas Bank the bottom is in place and currently the stock is trading at around Rs 40 levels or Rs 42 levels which is a very strong support, so definitely a hold on this stock. All PSU bank stocks which have been hammered in the last few months, I see some bottoming formation in all of them and the worst is over and the next rally in banking sector would be led by PSU bank, so definitely a hold to this stock at these levels."

The share touched its 52-week high Rs 89.90 and 52-week low Rs 39.90 on 06 June, 2014 and 8 May, 2015, respectively.