Stock market analyst Sudhanshu Pandey of FRR Shares and Securities has maintained 'buy' rating on Syndicate Bank stock with a target of Rs 165.

According to analyst, the stock can be purchased on dips around Rs 155-153 with a stop loss below Rs 150.

The stock of the company, on Nov 15, closed at Rs 158.05 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 160.40 and a low of Rs 80 on BSE.

Current EPS & P/E ratio stood at 16.79 and 9.62 respectively.

For the three month period ended Spetember 30, Syndicate Bank has registered an increase of 33.8% in its net profit, which stood at Rs 237 crore as compared to net profit of Rs 177.8 crore during the corresponding period of 2009.

State-owned lender also recorded a growth 5.3% in its total income for the second quarter at Rs 2,972.5 crore as against Rs 2,820.6 crore in July-September 2009.

For the first six month period ended September 30, Syndicate Bank recorded an increase of 14.3% in its net profit, which stood at Rs 502.4 crore from Rs 439.3 crore in September 2009.

Besides, Syndicate Bank has declared the results for the written examination on the behalf of Probationary officers (PO) Recruitment 2010-2011 in all divisions of the banking institution.