I’m thinking of buying shares of Bank of Maharashtra on Monday on cnc. Any suggestions
Why are you buying a failed company?
Good question. Is there some news in the grape-wine that we don’t know about (getting absorbed by bigger bank or something?). Otherwise I am really curious to know what made you pick this bank, leaving the Yes, IndusInd, or even SBI.
Charts are showing 18-20 as a multi year support level so u can start accumulation on a monthly basis, for a long term pt of view may be 2-3 years to have good returns.
Guys I know the bank is not performing well and has negative cash flows. Even it can and it will go in to reconstruction and my shares value may change on any side of the bar. But according to me a government company although running at a bad condition shows a pattern that it passes by and now it’s at it’s low and I think it’s a good time to buy. Also I’m not a pro in this field so I want some of your suggestions and views
Also I have some shares of hdil at 57.25 I’m eyeing the target of 90+ . What are your views?
Bank of Maharashtra is one of the banks in the PCA list. Super bad debt. Govt is going to infuse a lot of money in these 6 banks: BOI, IDBI, UCO, CBI, DENA and BOM. But does the infusion mean their future performance will be better? No! All these bad loans and debt will again pile up. Instead, I think you should better invest in Yes Bank, HDFC bank, Indusind bank. They will give handsome returns in the future. If you really want to take benefit of the re-capitalization, go for SBI and PNB.
You might be right technically but future lies deep inside the RBI policies which are going to come out in the next week.
Also what your views about hdil?
it seems u have a penchant for shitty companies which are at multiyear supports.