Buy Syndicate Bank, target Rs 43.5 : Manas Jaiswal
Buy Syndicate Bank at a price target of Rs 43.5 and a stoploss at Rs 39 from entry point.
Syndicate Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed Rs 15722.83 Crore to Sales Value (72.20 % of Total Sales), Income From Investment which contributed Rs 5199.59 Crore to Sales Value (23.87 % of Total Sales), Interest On Balances with RBI and Other Inter-Bank Funds which contributed Rs 713.14 Crore to Sales Value (3.27 % of Total Sales) and Interest which contributed Rs 140.40 Crore to Sales Value (0.64 % of Total Sales)for the year ending 31-Mar-2018.
The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs 27131.14 Crore (12.98 % of total assets) and Net Non Performing Assets (Net NPAs) of Rs 13321.30 Crore (6.83% of total assets). For the quarter ended 30-09-2018, the company has reported a Standalone Interest Income of Rs 3804.26 Crore, up 3.10 % from last quarter Interest Income of Rs 3689.91 Crore and down -5.64 % from last year same quarter Interest Income of Rs 4031.76 Crore. The bank has reported net profit after tax of Rs -1542.54 Crore in latest quarter.