Stock market analyst Anil Singhvi is of the view that investors can buy Syndicate Bank stock with intra-day target of Rs 105.

According to analyst, the investors can buy the stock with target of Rs 92.

The shares of the bank, on June 07, closed at Rs 94.85 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 105.40 and a low of Rs 65.05 on BSE.

Current EPS & P/E ratio stood at 15.58 and 6.19 respectively.

Today, the bank has invited applications from Indian citizens for recruitment of PO (Probationary Officers). The last date for online registration is 07 July 2010.

In the fourth quarter ended March 2010, Syndicate Bank's net profit dropped 18.5% to Rs 168.2 crore.

During the period under review, the bank's total income declined to Rs 2,742 crore.

Manipal-based public sector lender announced that the major cause behind the fall in its net profit was the higher provisions towards wage arrears, taxes among others.

The bank's operating profit in the January-March quarter stood at Rs 552.5 crore, which remained up by 18.7% as against the same period in the preceding quarter.

Syndicate Bank's 12-monthly net profit declined 11% to Rs 813 crore as compared to the previous financial year.