Technical analyst PK Agarwal of Purpleline Investment has maintained 'buy' rating on City Union Bank Ltd stock with a medium-to-long term target of Rs 65.

According to analyst, the stock can achieve the target within a period of 6-8 months.

Today, the stock of the company opened at Rs 49 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 52.40 and a low of Rs 24 on BSE.

Current EPS & P/E ratio stood at 4.52 and 11.07 respectively.

City Union Bank has introduced six new plans - online share trading, net banking along with transaction facility for business houses, point of sale terminal deployment, outsourcing of cash management services, application backed up by blocked sum for investment into IPO and issue of Visa Card for businesses.

Dr N Kamakodi, CUB's Executive Director stated that the banking institution has inked deal with Geojit BNP Paribas that will permit online trading capability with a leading broker and portfolio management services provider.

Dr. N Kamakodi stated, "We believe that more than 50,000 customers will benefit from this service introduction over the next 12 months."

The bank has declared its results for the three month period ended Sep 2010.

The bank recorded a net profit of Rs 61.6 crore as compared to Rs 45.7 crore.

Net interest income of the bank remained at Rs 104 crore.