Sell Syndicate Bank target Rs 60: Manas Jaiswal
Sell Syndicate Bank at a price target of Rs 60 and a stoploss at Rs 65 from entry point.
The current market price of Syndicate Bank is Rs 63.5.
Time period given by analyst is intraday when Syndicate Bank price can reach defined target.
Manas Jaiswal recommended to keep stoploss at Rs 65.
Syndicate Bank, incorporated in the year 1925, is a banking company (having a market cap of Rs 5847.85 Crore).
Syndicate Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed Rs 16856.16 Crore to Sales Value (73.27 per cent of Total Sales), Income From Investment which contributed Rs 5331.08 Crore to Sales Value (23.17 per cent of Total Sales), Interest On Balances with RBI and Other Inter-Bank Funds which contributed Rs 621.37 Crore to Sales Value (2.70 per cent of Total Sales) and Interest which contributed Rs 195.17 Crore to Sales Value (0.84 per cent of Total Sales)for the year ending 31-Mar-2017.
The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs 20183.85 Crore (9.96 per cent of total assets) and Net Non Performing Assets (Net NPAs) of Rs 12188.30 Crore (6.27per cent of total assets). For the quarter ended 30-06-2017, the company has reported a Standalone Interest Income of Rs 3875.21 Crore, down 6.94 per cent from last quarter Interest Income of Rs 4164.08 Crore and down 10.52 per cent from last year same quarter Interest Income of Rs 4330.62 Crore.