Buy Allahabad Bank, target Rs 48: Manas Jaiswal

Manas Jaiswal of manasjaiswal.com has a buy call on Allahabad Bank with a target price of Rs 48.0 . The current market price of Allahabad Bank is Rs 44.4 Time period given by analyst is Intra Day when Allahabad Bank price can reach defined target. Manas Jaiswal recommended to keep stoploss at Rs 43. Allahabad Bank, incorporated in 1865, has a market cap of Rs 4683.21 crore.

Allahabad Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed Rs 11028.54 Crore to Sales Value (67.41 % of Total Sales), Income From Investment which contributed Rs 4097.34 Crore to Sales Value (25.04 % of Total Sales), Interest On Balances with RBI and Other Inter-Bank Funds which contributed Rs 968.66 Crore to Sales Value (5.92 % of Total Sales) and Interest which contributed Rs 263.96 Crore to Sales Value (1.61 % of Total Sales)for the year ending 31-Mar-2018.

The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs 26562.79 Crore (15.96 % of total assets) and Net Non Performing Assets (Net NPAs) of Rs 12229.13 Crore (8.04% of total assets). For the quarter ended 31-03-2018, the company has reported a Standalone Interest Income of Rs 2430.76 Crore, down -15.28 % from last quarter Interest Income of Rs 2869.02 Crore and down -15.02 % from last year same quarter Interest Income of Rs 2860.30 Crore. The bank has reported net profit after tax of Rs -3509.63 Crore in latest quarter.