Sharekhan has come out with its report on various companies result update.
Allahabad Bank : Allahabad Bank’s Q1FY2011 was characterised by strong NII growth, decline in NPAs and strong fee income growth. The bank targets to grow its advances by 25% in FY2012. Currently the stock trades at 1.4 FY2012 book value. We have a positive outlook on the stock and will release a detailed note shortly.
