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Buy Syndicate Bank, target Rs 43.5 : Manas Jaiswal

Manas Jaiswal of manasjaiswal.com has a buy call on Syndicate Bank with a target price of Rs 43.5. The current market price of Syndicate Bank is Rs 40.55. Time period given by analyst is Intra Day when Syndicate Bank price can reach the defined target. Manas Jaiswal recommended to keep stoploss at Rs 39. Syndicate Bank, incorporated in 1925 has a market cap of Rs 6491.94 crore.

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.
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