Buy Dena Bank, says Ranak Merchant

Ranak Merchant of Shushil Finance feels that one should buy Dena Bank.

Merchant told CNBC-Awaaz, "Investors should buy Dena Bank at Rs 72-75 with a long term perspective. The stock has strong support at Rs 70-71. It may go upto Rs 92 in next 1 year time."
The company's trailing 12-month (TTM) EPS was at Rs 19.22 per share. (Jun 2011). The stock's price-to-earnings (P/E) ratio was 4.06. The latest book value of the company is Rs 103.76 per share. At current value, the price-to-book value of the company was 0.75. The dividend yield of the company was 2.82%.