See lower levels in Syndicate Bank: Sukhani

Sudarshan Sukhani of s2analytics.com feels that one can see lower levels in Syndicate Bank.

Sukhani told CNBC-TV18, "Yesterday’s correction in Syndicate Bank took away 20 days of gains, that is not the way a  market corrects or a stock corrects, so this is very clear and visible sign that the share price for Syndicate Bank is  willing to go lower and that is okay. Public Sector Undertakings (PSU) banks have done their bit, they have rallied a lot,  so what we are seeing is a correction but that correction can be deep."

The share touched its 52-week high Rs 145.20 and 52-week low Rs 87.60 on 15 January, 2013 and 23 May, 2012,  respectively. Currently, it is trading 8.23% below its 52-week high and 52.11% above its 52-week low. Market  capitalisation stands at Rs 8,020.98 crore.

The company's trailing 12-month (TTM) EPS was at Rs 25.77 per share. (Dec, 2012). The stock's price-to-earnings  (P/E) ratio was 5.18. 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 1. The dividend yield of the company was 2.85%.