Stock market analyst Hitendra Vasudeo of stockmechanics. com maintained 'Buy' rating on Oriental Bank of Commerce to achieve a target of Rs 319.40 in 4-5 trading sessions.

According to Mr. Vasudeo, interested investors can buy the stock around Rs 284.90-276.10 with a strict stop loss of Rs 272.

Today, the shares of the company opened at Rs 291.40 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 38.96 & 7.39 respectively.

The share price has seen a 52-week high of Rs 281.15 and a low of Rs 94.60 on BSE.

Oriental Bank of Commerce (OBC) has decided to hire around 1,550 people, comprising 100 marketing managers, by the next six months to meet up its workforce need.

The bank also said that it will also expand the total number of its branches in the coming time.

In 2008, OBC employed 1,427 employees in different cadre.

OBC is planning to open around 103 divisions by Dec 2009.

OBC has recorded a net profit of Rs 2,708 million for the quarter ended September 2009 as against Rs 2,368.90 million during the quarter ended September 2008.

Total income of the bank surged 18.63% to Rs 28,009 million as against Rs 23,610 million for the three month period ended Sep. 30, 2009.

It reported EPS of Rs 10.81 per share during the period.