Buy OBC With Stop Loss Of Rs 440

Buy OBC With Stop Loss Of Rs 440Stock market analyst Sanjay Surekha has maintained 'buy' rating on Oriental Bank of Commerce stock with a short term target of Rs 485.

According to analyst, the interested investors can buy the stock with a strict stop loss of Rs 440.

Today, the stock of the bank opened at Rs 460 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 476.75 and a low of Rs 225 on BSE.

Current EPS & P/E ratio stood at 49.51 and 9.31 respectively.

Oriental Bank of Commerce (OBC) is confident of getting a capital blend of Rs 1,000 crore from the administration during the existing financial year (2010-11).

Recently, OBC has lifted up Rs 300 crore via 9.05% tier-I perpetual bonds.

The bank said that Rs 200 crore was lifted via tier-II bonds.

While talking to FE, SC Sinha, executive director, OBC, stated, "The bank had requested the government for the Rs 1,000 crore capital infusion during the last financial year itself. However, no word has come from the government as yet.''

Set up in the year 1943 in Lahore, OBC is one of the public sector banking institutions in the country.

The bank owns a total network of 530 divisions and 505 ATM's spread tall through the country, out of which 490 divisions provide centralized banking solutions.

With High CAR, the bank is said be a dependable profit-making bank. It provides a range of services and products including current/ savings account, educational loans, general loans, agricultural loans etc.