Stock market analyst Ashwani Gujral has maintained ‘Buy’ rating on Vijaya Bank to achieve an intraday target of Rs 50.

According to Mr. Gujral, interested traders can buy the stock with a strict stop loss of Rs 41.

Shares of the company, on Tuesday (June 16), closed at Rs 44.10 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 6.05 and 7.29 respectively. The total volume of the shares traded was 905,822. The share price has seen a 52-week high of Rs 50 and a low of Rs 19.85 on BSE.

Mr. Gujral also said that if the stock market remains positive, the stock can hit Rs 53.

For the three month period ended March 31, 2009, Vijaya Bank announced that its net profit grew five fold to Rs 102.25 crore as against the same period last year.

The bank saw a net profit of Rs 17.80 crore during the quarter ended March 2008.

Total income of Vijaya Bank increased to Rs 1,622.28 crore for the fourth quarter as against Rs 1,263.17 crore in the same quarter last fiscal.

For the year ended March 31, the bank posted a net profit of Rs 262.46 crore, down 27.35 per cent from Rs 361.28 crore in the same period last fiscal.

Vijaya Bank has the largest number of branches in Karnataka.

In the financial Year 2008-09, Vijaya bank opened 50 Branches, of which 4 extension counters were upgraded.

In proportion to the existing trends, Vijaya bank has been giving greater thrust towards technological upgradation of its operations.

As on March 31, 2009, the bank has network of 1101 branches, 43 Extention Counters and 364 ATMs.

All 1101 branches, 37 extention counters, 12 service branches are running on CBS platform, and at 703 centers, covering 100 % of Bank's business.