Stock market analyst Rajesh Jain has maintained 'buy' rating on IDBI Bank Ltd stock to achieve a target of Rs 200.

Mr. Jain added that the stock will take around 12-18 months to hit this long term target.

Today, the stock of the bank opened at Rs 138 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 143.20 and a low of Rs 104.50 on BSE.

Current EPS & P/E ratio stood at 15.32 and 9.09 respectively.

In a major declaration, IDBI Bank Ltd announced that it is considering around 18 to 20% credit growth in 2010.

In order to consolidate subsidiary companies, the bank has decided to unite its completely owned bond house, IDBI Gilts Ltd, with itself.

During July this year, the bank's directors have given sanction to coalesce the IDBI's housing finance arm, IDBI Home Finance, with the bank.

Besides, the bank also announced that it has decided to lift up $1 billion in foreign currency by the next 12-15 months.

Bank's CMD R. M. Malla stated, "Recently we raised $350 million. There is a huge apetite for our papers. We intend to raise $1 billion in 12 to 15 months."