DCB has target of Rs 70: Keval Bhanushali

DCB has target of Rs 70, says Keval Bhanushali of Keynote Capital.

Bhanushali told CNBC-TV18, "Pick DCB at Rs 64.50 with a target of Rs 70. After some heavy losses in FY09-10 the company has been successfully able to reduce its non-performing asset (NPA) to 5.86% versus 8.78%. The company has now shifted its focus to secured loans, small and medium enterprises (SME) and micro small and medium enterprises (MSME) loans, so we expect good Q1 numbers followed by the better numbers in the financial year 11-12 that would definitely boost up Earnings Per Share (EPS) in the coming quarter."