Geojit BNP Paribas has recommended a buy rating on Corporation Bank, in its report dated November 3, 2009. The stock closed at Rs 416.80 on November 4, 2009.

"At CMP of Rs 420.15, Corporation Bank (Rs 10/- paid up) is trading at 4.9 times FY 2010 expected EPS of Rs 85/-. Price to H1 FY 2010 Adjusted Book Value works out to 1.27 times. Bank enjoys very comfortable return on average assets at 1.3%, which is very good. In view of decent growth prospects, we recommend to “BUY” the share at CMP," says Geojit BNP Paribas report.

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