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The Rs 10-face value Allahabad Bank stock, which has now come off its 52-week high of Rs 100, is seen to be accumulated by some sections, following what seems to be tell-tale signs of improving operations. This is said to have been reflected in a 40 per cent dividend that was declared recently. The bank, which is now expected to step up its international presence, is believed to be considering a foray into China, a market that is set to grow significantlyfor Indian bankers. On Wednesday, the stock closed at Rs 81.30 on the NSE. Trading volumes were at a modest 5.8 lakh shares. The counter had reached a 52-week low at Rs 71 or so.

Nilanjan Dey

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