DCB may test Rs 64, says Ambareesh Baliga

Ambareesh Baliga of Edelweiss Financial Services told CNBC-TV18, "Development Credit Bank (DCB) is a consistent performer over the last ten quarters or more, in fact this is a very good takeover candidate from what we can understand and in fact we have a price target of about Rs 64 but it should happen possibly in the next six-eight months."

At 10:46 hrs Development Credit Bank was quoting at Rs 50.80, up Rs 0.25, or 0.49 percent. It has touched an intraday high of Rs 51.85 and an intraday low of Rs 50.40. The share touched its 52-week high Rs 54.70 and 52-week low Rs 38.05 on 19 June, 2013 and 28 August, 2013, respectively. Currently, it is trading 7.13 percent below its 52-week high and 33.51 percent above its 52-week low. Market capitalisation stands at Rs 1,271.38 crore. Also Read: DCB Bank Q2 net up 50% at Rs 33 cr