Buy IDBI Bank With Stop Loss Of Rs 144

Technical analyst Hitesh Chotalia has maintained 'buy' rating on IDBI Bank routine with a target of Rs 160.

According to analyst, the investors can good buy the routine with a bring to a halt loss of Rs 144.

The routine of the stack, on January 10, distinct its closure by the side of Rs 147.80 on the Bombay Stock Exchange (BSE).

The share charge has seen a 52-week prohibitive of Rs 202.25 and a low of Rs 108 on BSE.

Current EPS & P/E ratio stood by the side of 13.06 and 11.24 correspondingly.

While apiece hottest reports, the shared sector lender bowed a Registrar in place of Unique Identification Authority of India (UIDAI).

The banking establishment and Unique Identification Authority of India (UIDAI) inked a MoU throughout a function, which took place in the nationwide wealth on January 10, 2011.

The MoU was signed by Shri B. P. Singh, Deputy Managing Director, IDBI Bank and Shri A. P. Singh, Deputy Director General, UIDAI.

Others give to throughout the signing ceremony were Shri Nandan M. Nilekani, Chairman, UIDAI, Shri R. S. Sharma, Director General, UIDAI and Shri R. M. Malla, Chairman and Managing Director, IDBI Bank Limited.

While chatting on the occasion, Shri R. M. Malla, CMD, IDBI Bank, acknowledged, "With the signing of MoU, the Bank is partnering in the labors of UIDAI in place of issuing Unique Identity statistics to the residents of India. While a Registrar, the Bank will sign up residents in the UID Project and assist the Authority in the various stages of the Project."

Besides, IDBI Bank raised its consequence rate on selected retail designate deposit campaign by around 75 basis points, in proportion to comparable steps by other banking institutions.