SP Tulsian of sptulsian.com told CNBC-TV18, "I like the ING Vysya's numbers. Considering NIM of about Rs 425 crore, PAT of Rs 175 crore, EPS of Rs 11.25 for Q1 against Rs 40 EPS in FY13, it means even if I annualise this 11.25 which is likely to be higher, one can expect an EPS of Rs 45-46. This indicates that it is likely to post a growth of about maybe 13-15 percent on the bottomline. Considering the present situation of all the private sector banks, I do not think that this kind of growth will be seen negative or disappointing by the market."
He further added, "If you take a fundamental call, PE multiple is close to about Rs 12 if I calculate on the expected EPS of Rs 46. If you calculate price-to-book as on 31st March, 2014 it will be at about 1.7, which is now at 1.9 and within the good network of about 530 branches across the board and they are catering to about 2 million customers with 44 percent promoter stake and 44 percent institutional investors stake. So actually I am keeping the positive view on the private sector banking stocks going forward. So, one can again expect a price of about Rs 700 in next six months or so." Disclosure: No holding or interests in above stock.
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