Stock market analyst Gajendra Nagpal of Unicon Financial has maintained 'buy' rating on Oriental Bank of Commerce (OBC) stock for short term.

According to analyst, the interested investors can buy the stock with a target of Rs 500.

The stock of the company, on Sep 16, closed at Rs 456.40 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 476.75 and a low of Rs 225 on BSE.

Current EPS & P/E ratio stood at 49.51 and 9.23 respectively.

Oriental Bank of Commerce (OBC) is confident of receiving a capital infusion of Rs 1,000 crore from the administration in the existing financial year (2010-11).

Recently, OBC lifted up around Rs 300 crore via 9.05% tier-I perpetual bonds and Rs 200 crore via tier-II bonds.

The tier-I issues opened on September 6 and ended on September 13 and was completly subscribed.

In contrast, the tier-II bonds opened on Sep 16.

While talking to FE, SC Sinha, executive director, OBC, said "The bank had requested the government for the Rs 1,000 crore capital infusion during the last financial year itself. However, no word has come from the government as yet.''

OBC projected that the amount of money may come from the administration during the second portion of capital infusion that was basically intended for banking institutions that are having administration's stake at 51%.