Technical analyst Salil Sharma has maintained 'buy' rating on Andhra Bank stock to achieve an intraday target of Rs 130.

According to Mr. Sharma, the interested investors can purchase the stock with a stop loss of Rs 120.

The shares of the company, on April 27, closed at Rs 122.40 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 126.25 and a low of Rs 56.25 on BSE.

Current EPS & P/E ratio stood at 20.76 and 5.88 respectively.

Andhra Bank will declare its audited financial results for the financial year ended on March 2010 on April 29.

The company's board will announce dividend, if any, for the fiscal ended March 2010.

Mr. R S Reddy, chairman and managing director of the bank said that 2009 has been path breaking for the bank. Deposits increased by 30%, CASA by 22%, advances by 27%.

All segments contributed in the overall development, MSME zoomed 55%, retail banking surged 45%, agriculture increased 30% and corporate remained up by 18%.

He added that the bank hopes to cross Rs 1.50 lakh crore business by September this year, making us a large-sized banking institution.