Edelweiss Star Analyst has released a report on Oriental Bank of Commerce with the following Rating,
ORIBAN's key metrics have improved significantly - strong business growth, sharp jump in margins, as well as strong rise in fee income. The bank’s margins are expanding at a pace well ahead of our estimate, though they seem to have peaked at current levels. ORIBAN is trading at attractive valuations based on FY11E and FY12E earnings. On our FY11E and FY12E EPS estimate of Rs. 51.6 and Rs. 70.5, the stock is currently trading at a P/E of 6.2 x and P/ABV of 1.03x on FY11E basis and at a P/E of 4.5x and P/ABV of 0.86x on FY12E basis.
