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Tech view: Divestment news can trigger up to 25% rally in IOB, Central Bank

PSU Bank stocks are back on investor radar this week after a media report suggested the government may soon initiate the process to privatise Central Bank of India and Indian Overseas Bank. The report further suggested the two lenders might see 51 per cent sale in the first phase of disinvestment. Reacting to the development, shares of both these lenders got locked in the 20 per cent upper circuit on Monday and extended thier rally to jump 16 per cent (IOB) and 17 per cent (Central Bank of India) on Tuesday and claimed fresh 52-week highs. That apart, J&K Bank, Indian Bank, Canara .....

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