Technical analyst Gaurang Shah of Geojit BNP Paribas is bullish on Vijaya Bank and has maintained 'buy' rating on the stock with a target of Rs 82.

The analyst said that the stock can be purchased with a stop loss of Rs 68.

The stock of the bank, on March 24, closed at Rs 73.95 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 115.35 and a low of Rs 46.60 on BSE.

Current EPS & P/E ratio stood at 13.85 and 5.42 respectively.

Bangalore-based Vijaya Bank is making plans to strengthen its corporate division network in India by launching three corporate banking divisions in three cities comprising Pune, Hyderabad and Chennai in 2011.

Vijaya Bank, which already has 3 such arms at Mumbai, Delhi and Bangalore is completely fulfilling all the banking requirements of business customers under one roof.

Vijaya Bank launched the new premises of its business banking division in Mumbai at Cuffe Parade.

Albert Tauro, CMD, Vijaya Bank stated, "We have got pan India presence with 1,190 branches and 521 ATMs spread across the country. The total business of the Bank is around Rs 113,000 crore with a net profit in excess of Rs 500 crore during the last fiscal."

Vijaya Bank recorded an increase eof 21.86% in its net profit, which stood at Rs 1,518 million for the three month period ended Dec 2010.

The bank's overall income surged 9.46% to Rs 15,844 million for the same period under review.