Buy Canara Bank 270 Call, advises VK Sharma

VK Sharma of HDFC Securities told CNBC-TV18, "Canara Bank has around more than 8 percent exposure to the state electricity boards (SEBs). So sentimental wise, it could be positive in the sense. It is not an investment bet with a tight stop loss. I am suggesting to buy 270 Call at around Rs 11 with stop loss at Rs 8 and a target of around Rs 18."At 13:44 hrs Canara Bank was quoting at Rs 273.95, up Rs 3.95, or 1.46 percent. It has touched an intraday high of Rs 277.55 and an intraday low of Rs 268.65.The company's trailing 12-month (TTM) EPS was at Rs 43.73 per share. (Sep, 2015). The stock's price-to-earnings (P/E) ratio was 6.28. The latest book value of the company is Rs 488.43 per share. At current value, the price-to-book value of the company was 0.56. The dividend yield of the company was 3.83 percent.