Take long term call on Syndicate Bank: Tulsian

Tulsian told CNBC-TV18, "Syndicate Bank may not be the right stock now to enter more from the trading point of view but if you want to take a fundamental call this is probably the cheapest stock available amongst the PSU bank, though the share has run-up by about 8% today it has crossed that three-digit mark and rolling at around Rs 101. But of you see their expected EPS of about Rs 18 for FY08 still makes the share quite cheap at a PE multiple of less than 6. And price to book value is also about less than 1.5. If you take the call on any other PSU bank that have a PE multiple of close to 8-9 or maybe 7-9 plus price to book of 1.5-2."

He further added, "This is probably the cheapest stock but one could to take a call on a little long-term maybe of about up to six months I think this could be a very rewarding share as I said that this is probably the cheapest, they have all the efficiency they are meeting with all the banking norms, the parameters and other operating efficiency norms. So may not be a trading call although one may get a rise of about Rs 5-7 from these levels, but it would be equally risky also."

Disclosure: Analyst doesn't hold the above stock.