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The Oriental Bank of Commerce stock is believed to be gaining from the bank's proposal to step up its network and its expectations on credit growth. OBC, which closed on the NSE at Rs 169.80, recorded a 2.5 per cent gain on Friday, the total traded quantity being over 3.8 lakh shares. The stock is still well below its 52-week high of Rs 296.75, it is pointed out. OBC, which is on its way to clean up the mess inherited by it following the Global Trust Bank bail-out, is also expected to benefit from its proposed foray into life insurance, a business that is currently attracting banks in a big way.

Nilanjan Dey

More Stories on : Stocks | Public Sector Banks | Ear to the ground | Oriental Bank of Commerce

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