CANARA BANK-SHORT TERM

CANARABANK

An another short term recommendation for investors is canarabank. for following reasons....

1. One of the Good interest earning bank with considerable profit.
2. Continuously delivering dividend to their share holders. It having good dividend history.
3. Book value now Rs 465 as on march 2012. It trading 1.06 times on book value.
4. Expecting earning per share for this financial year 2013 would be around 65-70 
5. PE ratio now around 7. It is also seems to be very cheap.
6. More than 65% shares held by central & state government. As of now no pledging of shares.
7. In coming year 2013's RBI credit policy may little favour to banks .So that may increase their interest earning.

So these are some reasons for why canarabank looking good  for short term. We are looking for target of around 20-25 % on up side. Now trading in the rate of 490+ Holding time around 5-7 months If we seen any down side from here then please add more quantity because it has good potential with strong fundamental. If one hold for long term more than 4 years then target will be 1042+++ If u have any queries please forward it to nsebsenow@gmail.com or call on us 8973655142