Syndicate Bank can test Rs 115-117: Anil Manghnani

Syndicate Bank can test Rs 115-117, says Anil Manghnani, Modern Shares & Stock Brokers.
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Oct 01, 2012, 10.51 AM | Source: CNBC-TV18

Syndicate Bank can test Rs 115-117: Anil Manghnani

Syndicate Bank can test Rs 115-117, says Anil Manghnani, Modern Shares & Stock Brokers.

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Syndicate Bank can test Rs 115-117: Anil Manghnani

Syndicate Bank can test Rs 115-117, says Anil Manghnani, Modern Shares & Stock Brokers.

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Anil Manghnani (more)

Analyst, Modern Shares & Stock Brokers | Capital Expertise: Equity - Technical

Syndicate Bank can test Rs 115-117, says Anil Manghnani, Modern Shares & Stock Brokers.

Manghnani told CNBC-TV18, "If assuming that banking has to lead any rally and that PSU banks need to play catch up, I went for a strategy where you buy one of these banks. I think Syndicate Bank has broken out on the weekly chart, so may be a stop loss of Rs 102, a pull back to 115-117 looks likely."

The company's trailing 12-month (TTM) EPS was at Rs 18.28 per share. (Jun, 2012). The stock's price-to-earnings (P/E) ratio was 6.10. The latest book value of the company is Rs 133.50 per share. At current value, the price-to-book value of the company was 0.84. The dividend yield of the company was 3.41%.

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Syndicate Bank can test Rs 115-117: Anil Manghnani

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