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Buy Bank of India for Short Term

Discussion in 'Equity Investment Discussions' started by real_buzz, Dec 18, 2013.

  1. real_buzz Moderator

    Brokers are recommending a buy call on union bank of India. RBI has not increased interest rates in their latest RBI policy review and it has come as a positive surprise for the banking and interest rate sensitive sector. Brokers have listed out following reasons why union bank of india could be a good bet;
    During last few days liquidity has eased out in the system.
    Macro concerns of CAD and currency front has eased out.
    Post strong poll verdict for BJP markets, would perceive the news, positively and cheap cyclicals to do well.
    PSU banks are trading cheap on valuation and expect some re-rating in the stocks.
    Though it is too early to predict that NPA cycle has changed but do not see sharp deterioration from current levels.
    Attractive valuations: Union Bank’s stock has taken a beating-underperformed Sensex > 50% over the past six months. It now trades at an attractive valuation of 0.4x FY15E ABV, adequately capturing the risk and leaving limited downside.
    Current Price – Rs120

    Target Price –Rs140

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