Buy Dhanlaxmi Bank With Target Of Rs 105

Buy Dhanlaxmi Bank With Target Of Rs 105Technical analyst Salil Sharma has maintained 'buy' rating on Dhanlaxmi Bank Limited stock with an intra-day target of Rs 105.

According to analyst, the stock can be purchased with a stop loss of Rs 95.

The stock of the company, on February 01, closed at Rs 97.20 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 212.50 and a low of Rs 96 on BSE.

Current EPS & P/E ratio stood at 1.72 and 58.48 respectively.

Dhanlaxmi Bank has recorded more than five fold growth in its net profit, which stood at Rs 7.26 crore for the three month period ended December 31, 2010.

It had registered a net profit of Rs 1.32 crore during the same period of 2009.

Dhanlaxmi Bank's total income grew by 81% to Rs 283.22 crore in October-December 2010 period as against Rs 156.46 crore in the same period last year.

Moreover, Dhanlaxmi Bank has decided to lift up equity capital of around Rs 1,000 crore by issuing 5.5 crore equity shares having a face value of Rs 10.

The equity issuance will take place to expand its Tier-I capital base.