2011 COMPANY RESEARCH REPORT October 28, 2010
COMPANY RESEARCH REPORT
INITIATING COVERAGE
SYNDICATE BANK LIMITED
RECOMMENDATION: BUY
CMP: Rs. 97
BUY PRICE: Rs.88
levels as that represents a 45%
margin of safety on our weighted
average target price of Rs. 128.
27 19/11/2011
INITIATING COVERAGE- ‘BUY’ : SYNDICATE BANK LIMITED
Researched and prepared by:
Amar Chandramohan
Sr. Fundamental Analyst
Email: amar.c@hedgeequities.com
Ph: (0484) 3040400, 3040419
In collaboration with
Muhammed Aslam E
Fundamental Analyst
Email: muhammedaslam.e@hedgeequities.com
Krishnan Thampi K
Head of Research and Strategies
Email: krishnanthampi.k@hedgeequities.com
HEDGE RESEARCH & STRATEGIES GROUP DIRECT ALL RESEARCH QUERIES TO:
Head of Research: Krishnan Thampi K
Sr. Fundamental Analyst: Amar Chandramohan Research & Strategies Group
Fundamental Analyst: Muhammed Aslam E Hedge Equities Ltd
Fundamental Analyst: Neha Mahajan 12 Floor, -Mini Muthoot Tech Towers
Economic and Commodity Analyst: Vignesh SBK Kaloor, Kochi– 682017, Kerala, India
Sr. Equity Technical Analyst: Anish Chandran C V Phone: (0484) 3040400
Sr. Commodity & Equity Technical Analyst: Kesavamoorthy B Email: research@HedgeEquities.com
Futures & Options Analyst: Yunus Ismail
Access all our research reports online at www.HedgeEquities.com
Disclaimer
The information contained in our report does not constitute an offer to sell securities or the solicitation of an offer to buy, any security. This report is prepared for
private circulation only. The information in our report is not intended as financial advice. Hedge Equities Ltd does not undertake the responsibility for any
investment decision taken by the readers based on this report. Moreover, none of the information in the research report is intended as a prospectus within the
meaning of the applicable laws of any jurisdiction. The information and opinions contained in our research reports have been compiled or arrived at from
sources believed to be reliable in good faith, but no representation or warranty, express or implied, is made by Hedge Equities Ltd, to their accuracy. Moreover,
you should be aware of the fact that investments in securities or other financial instruments involve risks. Past results do not guarantee future performance.
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