Buy Allahabad Bank, target Rs 81: Manas Jaiswal

Manas Jaiswal of manasjaiswal.com has a buy call on Allahabad Bank with a target price of Rs 81.

The current market price of Allahabad Bank is Rs 75.65.

Time period given by analyst is intraday when Allahabad Bank price can reach defined target.

Manas Jaiswal recommended to keep stoploss at Rs 73.50.

Allahabad Bank, incorporated in the year 1865, is a banking company (having a market cap of Rs 5,626.01 crore).

Allahabad Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed Rs 12,603.10 crore to Sales Value (71.36 % of Total Sales), Income From Investment which contributed Rs 4,120.12 crore to Sales Value (23.32 % of Total Sales), Interest On Balances with RBI and Other Inter-Bank Funds which contributed Rs 612.69 crore to Sales Value (3.46 % of Total Sales) and Interest which contributed Rs 324.48 crore to Sales Value (1.83 % of Total Sales)for the year ending 31-Mar-2017.

The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs 20,687.83 crore (13.09 % of total assets) and Net Non Performing Assets (Net NPAs) of Rs 13,433.51 crore (8.92% of total assets).

For the quarter ended 31-03-2017, the company has reported a Standalone Interest Income of Rs 2,860.30 crore, down 6.54 % from last quarter Interest Income of Rs 3,060.29 crore and down 14.87 % from last year same quarter Interest Income of Rs 3,360.07 crore.