Stock market analysts have maintained 'buy' rating on Canara Bank with an intraday target of Rs 348.

According to them, interested traders can buy the stock above Rs 346 with a stop loss of Rs 343. If the stock market remains on positive track, the stock will hit Rs 352 in today's session.

Shares of the company, on Wednesday (Oct 07), closed at Rs 342.40 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 61.10 and 5.63 respectively. The share price has seen a 52-week high of Rs 349 and a low of Rs 135 on BSE.

Canara Bank is eyeing to join the "big league" by March next year, when it would have more than 3,000 divisions all through the country.

The banking institution has authorization to open 200 divisions in in the existing financial, comprising the licences of 20 arms pertaining to last year. It has added 1,290 divisions under core banking and decided to cover up 1,600 by the next 2 months.

On abroad presence, bank's executive director, Mr. H. S. Upendra Kamath said that they will be opening a division at Lester and a Representative Office in Sharjah shortly.

He added that the bank has 3 foreign divisions situated at London, Hong Kong and Shanghai and partnership with SBI in Moscow.

He also said that the bank also has the authorization from the central bank to open offices in eight to nine centres.

Canara bank aims to hit a business volume worth Rs 4 lakh crore during the existing fiscal.