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Apr 20, 2013, 12.42 PM IST | Source: CNBC-TV18

IDBI Bank has resistance around Rs 90: Sharma

According to VK Sharma of HDFC Securities, the next resistance for IDBI Bank is at around Rs 90.

VK Sharma

Head Private Broking & Wealth Management

Expertise : F&O

More about the Expert...

According to VK Sharma of HDFC Securities, the next resistance for IDBI Bank is at around Rs 90.

Sharma told CNBC-TV18, “IDBI Bank has seen a decent build up of open interest around 8 percent. In terms of price also the stock went up by 2-2.5 percent. At Rs 86.50 it is well placed and the next resistance comes at around Rs 90. So considering the fact that 85 Call was the level at around Rs 2.2 I am suggesting that one can buy that with a stop loss of Re 1. And even if the stock touches the price of Rs 90 the target price of Rs 5 in the 85 Call would be achieved.”

The company's trailing 12-month (TTM) EPS was at Rs 16.36 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 5.27. The latest book value of the company is Rs 132.27 per share. At current value, the price-to-book value of the company was 0.65. The dividend yield of the company was 4.06 percent.

The stock's price-to-earnings (P/E) ratio stands at 5.28 on (NSE).

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