Buy IDBI With Stop Loss Of Rs 184

Buy IDBI With Stop Loss Of Rs 184Stock market analyst Hitesh Chotalia has maintained buy rating on IDBI Bank Limited stock to achieve a target of Rs 200.

The interested investors can buy the stock with a stop loss of Rs 184.

The stock of the bank, on November 18, closed at Rs 188.10 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 202.25 and a low of Rs 108 on BSE.

Current EPS & P/E ratio stood at 13.06 and 14.07 respectively.

Considering the policy rate increase by the central banking institution (Reserve Bank of India), inflation and liquidity scenario, the bank is all set to lift up the retail term deposit rates by 10 - 50 bps in a rage of maturity buckets.

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

In its standalone net profit for the three month period ended September 2010, the bank has recorded growth of 69.11% in its net profit, which stood at Rs 4,291 million.

During the quarter ended September 2009, the company had a net profit of Rs 2,537.40 million.

Company's total income jumped to Rs 50,693.90 million for the three month period ended September 30, 2010 as compared to Rs 42,828.40 million for the quarter ended Sept 2009, indicating a growth of 18.37%.