Short Term Buy Call For Allahabad Bank

Short Term Buy Call For Allahabad BankTechnical analyst Prakash Gaba has maintained 'hold' rating on Allahabad Bank Limited stock.

The analyst said that the stock can be purchased with a stop loss of Rs 200.

Today, the stock of the company opened at Rs 201 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 270.90 and a low of Rs 123 on BSE.

Current EPS & P/E ratio stood at 32.59 and 6.38 respectively.

On domestic term deposits, Allahabad Bank has amended rates of interest to 8% on for a fixed time period of 300 days wef December 01.

Old persons will enjoy an added 0.5% interest rate. The rates of interest will remain the same for all other domestic term deposits.

Hyundai India Pvt Ltd (HMIL) has inked a MoU with Allahabad Bank with the intention to offer up its clients' with simple finance alternatives in the country.

Allahabad Bank is one of the most esteemed banking institutions in the country and has more than 2,364 divisions spread all over India.

The bank has more than 200 ATM outlets in India.

With this affiliation, both of the firms will not only endorse each others products but will also get good leverage to reinforce its place in the country.

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