Technical Expert Ashwani Gujral has suggested Buy Call for Public Sector lender Dena Bank with a target of Rs 85.
While commenting during an interview on CNBC Awaaz, Mr. Gujral has suggested stop loss of Rs 71 for Dena Bank.
The stock is down by 5.2% at 11.10 am, at Rs 71.5 on NSE. Dena Bank has touched 52-week high and low of Rs 79.9 and 24 on NSE.
Dena Bank is low price stock among PSU banking majors in India. There are many banking stocks available at low P/E multiple. PSU banks are safe bets considering their lower valuations and strong presence in market.
While Private Banking Players including HDFC Bank, Axis Bank, ICICI Bank enjoy much higher P/E valuations in stock markets, the PSU banks have always stayed at lower P/E multiples.
TopNews has suggested Buy Calls for many Public Sector banks trading at low P/E in the past as well. Other good low priced stocks in banking sector include Allahabad Bank, UCO Bank, Canara Bank and Bank of India. Investors with long term view can consider entering these stocks on every major decline.