Hold IDBI Bank
Technical Analyst Ramesh Arora has maintained 'hold' rating on IDBI Bank stock with targets of Rs 125.
Mr. Arora said that the interested investors can hold the stock with stop loss of Rs 112.
Today, the shares of the bank opened at Rs 117 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 140 and a low of Rs 60.45 on BSE.
Current EPS & P/E ratio stood at 14.22 and 8.30 respectively.
During the year ended March 2010, IDBI Bank has recorded a total income of Rs 17,564 crore as compared to Rs 13,021 crore in 2008-09.
The bank's interest income for the year stood at Rs 15,273 crore while the non-interest income was Rs 2,291 crore.
The operating profit of the bank also came up 98% at Rs 2,727 crore as compared to Rs 1,378 crore in 2008-09.
The net profit also remained up by 20% at Rs 1,031 crore from Rs 859 crore in the same period of last year.
Total business of the bank recorded an increase of 42% at Rs 3,05,869 crore. Deposits grew 49.2% to Rs 1,67,667 crore and advances remained up by 33.6% to Rs 1,38,202 crore.
IDBI Bank has 720 branches as well as 1,210 ATMs all over Indian.
IDBI Asset Management (IDBI AMC), a wholly-owned arm of IDBI Bank, has made announcement about the launching of its first new fund offer (NFO) for 'IDBI Nifty Index Fund' for Indian investors.