Intraday Buy Call For Syndicate Bank

Technical analyst Amit Gupta of ICICI Securities has maintained 'buy' rating on Syndicate Bank routine with a target of Rs 113-114.

According to analyst, the routine can be purchased on dips.

The routine of the company, on January 11, congested by the side of Rs 102.50 on the Bombay Stock Exchange (BSE).

The share charge has seen a 52-week prohibitive of Rs 164.20 and a low of Rs 80 on BSE.

Current EPS & P/E ratio stood by the side of 16.79 and 6.23 correspondingly.

For the three month episode ended September 30, 2010, Syndicate Bank has recorded an increase in intensity of 33.34% in its get profit, which stood by the side of Rs 2,371 million as compared to Rs 1,778.10 million in place of the corresponding quarter a time before.

Total takings of the stack surged 5.40% to Rs 29,728 million throughout July-September quarter as contrary to Rs 28,206.40 million in place of the same quarter of 2009.

Set up in 1925, the banking establishment had its basic company in Udupi.

Syndicate Bank, mutually with 13 major advertisement banking institutions of the terrain, got nationalized on 19 July 1969, by the Indian administration.

The scrips of the stack got listed on Bombay Stock Exchange, National Stock Exchange, Mangalore Stock Exchange and Bangalore Stock Exchange.