Technical analyst Rajesh Agarwal of Eastern Financiers Ltd has maintained 'buy' rating on Andhra Bank Limited stock with a 9-12 months view.

According to analyst, the investors can buy the stock between Rs 140-150.

Today, the stock of the bank opened at Rs 150 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 190.15 and a low of Rs 96.20 on BSE.

Current EPS & P/E ratio stood at 24.63 and 6.01 respectively.

During the third quarter ended December 2010, Andhra Bank has registered an increase of 20.4% in its net profit, which stood at Rs 331 crore as against Rs 275 crore during the corresponding period of 2009.

The bank's operating profit increased 30% to Rs 627 crore as compared to Rs 482 crore in 2009.

The bank registered a growth of 44% in its net interest income (NIM) to Rs 840 crore during the quarter under review.

Bank's CMD R. Ramachandran announced that the bank's net profit for the first nine months ended December 2010 bettered to Rs 954 crore as against Rs 806 crore, recording a year-on-year increase of 18.4%.

The bank's operating profit surged 32.7% to Rs 1,702 crore as against Rs 1,283 crore.

Bank's overall biz remained at Rs 1,47,682 crore from Rs 1,17,899 crore in December 2009.

Mr. Ramachandran added that the banking institution was likely to obtain a capital infusion of Rs 1,200 crore in 2011-12 from the administration, which would be utilized for incremental biz requirements.