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Buy Bank of Maharashtra, target Rs 46: Sushil Finance

Published on Fri, Jul 17, 2009 at 16:20   |  Updated at Fri, Jul 17, 2009 at 18:11  |  Source : Moneycontrol.com
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Sushil Finance has recommended a buy rating on Bank of Maharashtra, with price target of Rs 46, in its report dated July 16, 2009.

"Bank of Maharashtra (BOM) has high CASA share of 35.7% will help the bank in maintaining its low funding cost (5.9% in FY09). Strong business growth, high CASA ( 36%), decent asset quality, sustainable ROE of about 16%, strong network base, comfortable CAR of 12% with finance ministry promising to infuse the required capital in BOM, scope for growing advances due to low Credit deposit ratio and decent dividend yield of +5% are the other key positives for the bank. Stock is trading at a valuation of 0.7x FY11E ABV and 3.3x FY11E Earnings. Buy with price target of Rs 46," says Sushil Finance's report.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.


To read the full report click on the attachment......

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