Technical Analyst Salil Sharma has maintained 'buy' rating on Dena Bank stock to achieve an intraday target of Rs 88.

According to him, interested traders can purchase the stock with a stop loss of Rs 81.

The shares of the company, on May 04, closed at Rs 84.30 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 93 and a low of Rs 37.60 on BSE.

Current EPS & P/E ratio stood at 17.82 and 4.63 respectively.

Dena Bank is eyeing a loan growth of 22-24 percent in the current financial year.

The bank has sought Rs 1300 crore of capital from the federal administration by the next 3 years in order to meet up loan expansion objectives.

The bank's capital adequacy as on March 31 stood at 12.77%.

The lender is also eyeing a net interest margin of 2.65-2.70% in the current fiscal.

Moreover, the bank plans to open 400 new divisions by 2013 to expand its footprint.

Dena bank recorded 23.42% increase in Jan-March net profit to Rs 137 crore on credit demand from both business and retail segments.

The bank's loan book increased 22.40% in FY10 on higher lending to retail, farming and medium businesses.