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