50% gain roughly. I bought in spring of 2008 at $33 and held through the plunge. Quite the Mr. Toad's Wild Ride.
good, but it is going to $65 i.e to 2007 levels
I agree. This company has been painted with the broad brush that has painted the entire sector. IBN is a very well run bank and has avoided many of the pitfalls that have plagued other banks. Taking some profit is never a bad play, but I think this one has a ways to run. This has been a core holding of mine since '08.
I also believe it is going to $65 to pre levels. The rupee dollar rate may also go to INR 40 approx in about 2 to 3 months time.Hold on to your shares if you can.
I did the same thing.. I sold half of my IBN stocks at $49. All Indian bank stocks have had a decent rally.. In short term I dont think these are going anywhere but down.. I will pick up some at the lower price..
I sold more than half but keeping a significant postion.Switched to better value at reasonable price but with same long term growth rate banks: BBD ITUB and a couple of good reits HPT and CWH