Intraday Buy Call For Dena Bank

Intraday Buy Call For Dena BankStock market analyst Kunal Saraogi has maintained 'buy' rating on Indian Bank stock to achieve an intraday target of Rs 99.

According to analyst, the investors can buy the stock with stop loss of Rs 88.

The stock of the bank, on July 08, closed at Rs 92.70 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 17.82 and 5.27 respectively.

The share price has seen a 52-week high of Rs 96.80 and a low of Rs 46 on BSE.

Dena Bank, on July 01, stated that it has decreased the interest rates on non-resident external and foreign currency non-resident deposits.

Interest on NRE rupee term deposits for one year and above, but below 2 years, has been decreased to 2.92% as against 2.95%, whereas for deposits with a 2-year tenor but below 3 years, the rate has been slashed to 2.72% as compared to 3%.

For 3 years, the fresh rate will be 3.08% as compared to the previous 3.47%.

For its foreign currency non-resident deposits and resident foreign currency US-dollar denominated deposits, the rate of interest has been decreased to 2.17% as against 2.20% for one year and above, but below 2 years.