Buy Dena Bank For Target Of Rs 102
Stock market analyst Rahul Mohinder is of the view that investors can buy Dena Bank stock with intra-day targets of Rs 97-102.
According to analyst, the traders can buy the stock stop loss of Rs 92.50.
The shares of the bank, on June 23, closed at Rs 94.10 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 95.45 and a low of Rs 46 on BSE.
Current EPS & P/E ratio stood at 17.82 and 5.38 respectively.
The analyst said that Dena Bank is a profitable option.
The banking institution has heightened its concentration on high margin products including advance to small and medium sized enterprises.
Dena has been capable of lifting its loan book at a CAGR of 25.64% in the last five years to Rs 354.62 billion during the existing financial year, it anticipates the bank to increase its advance by 24% at Rs 439.41 billion in FY11E.
Headquartered in Mumbai, the bank is one of the earliest banking institutions in the country
Dena Bank is one of the most esteemed banking institutions of India with a strong market share.