Technical analyst Hitendra Vasudeo has maintained 'hold' rating on Central Bank of India stock.

According to analyst, the investors can buy the stock with a stop loss of Rs 160.

Mr. Hitendra said that the investors can exit the stock on rally in the range of Rs 166-172.

Today, the stock of the bank opened at Rs 160 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 249.05 and a low of Rs 139 on BSE.

Central bank of India declared it plans to lift up around Rs 2,500 crore from rights issue for which it has determined record date.

The bank's board sanctioned Rs 103 as issue price for each right equity shares.

In addition, the banking institution has set March 18 as record date for the idea of ascertaining stockholders entitled for rights issue.

State-owned lender Central Bank of India has recorded an increase of 31.68% in its net profit for the quarter ended Dec. 31, 2010.

The bank recorded a net profit of Rs 4,035.20 million during the said period as against Rs 3064.40 million for the same period of last year.

Bank's total income surged to Rs 41,825.90 million for the period ended Dec 2010 as compared to Rs 34,954.20 million for the quarter ended Dec 2009.