Stock market analyst Ramesh Arora has maintained 'buy' rating on IDBI Bank Limited stock with a target of Rs 212.

According to analyst, the interested investors can buy the stock with strict stop loss of Rs 194.

The stock of the bank will hit the target in 1-2 trading sessions.

The stock of the company, on Nov 10, closed at Rs 198.45 on the Bombay Stock Exchange (BSE).

Current EPS & P/E ratio stood at 13.06 and 15.41 respectively.

The share price has seen a 52-week high of Rs 200.70 and a low of Rs 108 on BSE.

For the three month period ended September 2010, IDBI Bank has recorded a growth of 69.11% in its standalone net profit.

The consolidated net profit of the bank stood at Rs 4,291 million as against Rs 2,537.40 million during the corresponding period of previous year.

Total income of the bank surged 18.37% to Rs 50,693.90 million as against Rs 42,828.40 million for the three month period ended September 30, 2009.

Considering the policy rate increase by the central banking institution (RBI), inflation and liquidity scenario, the bank has decided to raise the retail term deposit rates by 10 - 50 BPS in a rage of maturity buckets.

With this alteration, the maximum rate of interest on retail term deposits would be 8.25 %.