Buy Canara Bank, target of Rs 278: Karvy

Karvy Stock Broking has recommended a buy rating on Canara Bank with a target price of Rs 278 in its January 12, 2009 research report. "In 3QFY09, we expect the bank total business to grow by 23.7% (Y/Y) on the back of 28.3% growth in net advances and 20.5% growth in total deposits mobilization. We rate the stock as a BUY with a price target of Rs 278 at 1.25x adjusted book value FY2010," says Karvy's research report.
Visit http://equityadvise.blogspot.com for Detailed indepth Stock Analysis by Me.
The blogger is not responsible for any loss arising on account of transactions done on the basis of recommendations/opinions published here. You are advised to consult your Advisor before taking any decision.