Go long in Allahabad Bank, Andhra Bank, UCO Bank: Tulsian

SP Tulsian, sptulsian.com advice traders to go long in Allahabad Bank, Andhra Bank and UCO Bank.

Tulsian told CNBC-TV18, “I would advice to go long on all midcap PSU banking stocks. If one takes a call on Allahabad Bank, Andhra Bank, IOB, Dena Bank, UCO Bank, Central Bank, Syndicate Bank, I think all of them can give a rise of anywhere between 3-4%. The first couple of hours are quite crucial, if somebody can take a position and look to get out, may be on a gain of about 2% or so that will be a right strategy to really play on.”

Allahabad Bank's trailing 12-month (TTM) EPS was at Rs 29.88 per share. (Dec, 2011). The stock's price-to-earnings (P/E) ratio was 6.44. The latest book value of the company is Rs 153.33 per share. At current value, the price-to-book value of the company was 1.25. The dividend yield of the company was 3.12%.