Intraday Buy Call For Dena Bank

Intraday Buy Call For Dena BankTechnical analyst Salil Sharma has maintained 'buy' rating on Dena Bank stock with a target of Rs 114.

The analyst said that the investors can buy the stock with a stop loss of Rs 105.

The shares of the company, on April 11, closed at Rs 107.50 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 151 and a low of Rs 78.15 on BSE.

Current EPS & P/E ratio stood at 20.63 and 5.25 respectively.

Dena Bank's March 2011 growth stood at 24-25%.

By the coming year, the banking institution is eyeing a credit growth of around 25%.

CASA increase was quite considerable in the existing year.

Dena Bank has been capable of making it develop between 25-26%.

The state-run banking institution stated that it has lifted up around Rs 538.99 crore by issuing 4.65 crore shares of Rs 10 each at a premium of Rs 105.75 per share to the Indian administration on preferential basis.

Dena Bank's net profit grew by 15.4% to Rs 155.21 crore on 23.3% boost in operating income to Rs 1416.95 crore in the third quarter of 2010 as against the same period of 2009.

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