Axis Bank, ICICI Bank look strong: Jitendra Mehta

Axis Bank and ICICI Bank are looking quite strong, says Jitendra Mehta, Edelweiss.

Mehta told CNBC-TV18, "You can see a formation of inverted head and shoulder pattern on Bank Nifty where the neckline is around 11350 which would be clear break out level. You could like to play this long with stocks like Axis Bank and ICICI Bank which are looking quite strong on charts right now."
Axis Bank trailing 12-month (TTM) EPS was at Rs 76.37 per share. (Dec, 2010). The stock's price-to-earnings (P/E) ratio was 17.89. The latest book value of the company is Rs 391.20 per share. At current value, the price-to-book value of the company was 3.49. The dividend yield of the company was 0.88%.
 
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