Buy Dena Bank For Target Of Rs 115
Stock market analyst Shardul Kulkarni of Angel Broking is of the view that investors can buy Dena Bank stock with target of Rs 115 within 3-4 months.
According to analyst, the traders can buy the stock stop loss of Rs 92.50.
Mr. Kulkarni added that Dena Bank is a profitable option to reap good returns in the short term.
Today, the shares of the bank opened at Rs 93 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 96.40 and a low of Rs 46 on BSE.
Current EPS & P/E ratio stood at 17.82 and 5.22 respectively.
Dena Bank, one of the earliest banking institutions in the country, is headquartered in Mumbai.
The bank was founded by the family of Devkaran Nanjee under the name Devkaran Nanjee Banking Company Ltd.
It got nationalized in the year 1969 together with 13 other banking institutions in the country.
Dena Bank's major activity is to offer up commercial banking and other associated services.
The other services provided by the bank include merchant banking, asset management and other related services.
According to reports, Dena Bank has raised its concentration on high margin products, which comprise advance to small and medium sized enterprises.