Buy Dena Bank For Target Of Rs 88

Buy Dena Bank For Target Of Rs 88Stock market analyst Rahul Mohinder is of the view that investors can buy Dena Bank stock with stop loss of Rs 88.

According to analyst, the investors can buy the stock for 10-15% upside in two days.

Today, the shares of the company opened at Rs 92 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 95.45 and a low of Rs 46 on BSE.

Current EPS & P/E ratio stood at 17.82 and 5.22 respectively.

Dena Bank has heightened its focus of on high margin products that comprise advance to SMEs.

The bank has been capable of growing its loan book at a CAGR of 25.64% during the last five years to Rs 354.62 billion in the existing fiscal, it anticipates the bank to expand its advance by 24% at Rs 439.41 billion in FY11E.

Founded on 26 May, 1938, Dena Bank is one of the earliest banking institutions in the country.

It is headquartered in Mumbai, Maharashtra.

Dena Bank is one of the most esteemed banking institutions of India with a strong market share.

Dena Bank was nationalized in the year 1969 together with 13 other banks in India.