Stock market analyst Ashwani Gujral is of the view that investors can hold Allahabad Bank stock to achieve a short-term target of Rs 175.

According to Mr. Gujral, the investors will hold the stock with a strict stop loss of Rs 160.

Today, the shares of the company opened at Rs 163 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 170 and a low of Rs 49.75 on BSE.

Current EPS & P/E ratio stood at 27.89 and 5.88 respectively.

Allahabad Bank has attained business worth Rs 1,79,000 crore in the financial year completed recently.

With this achievement, the public sector lender has been capable of outrunning its aim of Rs 1,75, 000 crore positioned for the fiscal.

The bank's deposits stood at Rs 1, 06, 000 crore whereas its advances were Rs 73,000 crore during the period.

Chairman and MD JP Dua stated that the bank has enforced core banking solution (CBS) in its 969 divisions across India.

Moreover, Allahabad Bank has plans of carrying out core banking solution in all its 2, 287 arms by the end of this year.

Mr. Dua also said that the banking institution would concentrate on increased credit flow to MSMEs.

Moreover, the bank has also launched its initial division in Silvassa that comes under the Union Territory of Dadra and Nagar Haveli.