The demanded valuation also looks reasonable. However, the bank is involved in several legal proceedings including those filed by some of the existing investors regarding the offer for sale. The verdict is pending. This may be a major deterrent for risk-averse investors. Given these factors, the issue looks more suitable for investors with a higher risk appetite.
From a technical standpoint, Nifty50 remains firmly on a rising trajectory. If it continues to advance within its defined and laid path, it may go