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Large volumes marked trading in the stock of Syndicate Bank, which ended at Rs 74.10 on the BSE today. Total traded volume stood at 2,61,633 shares. A perception that the recently hiked PLR (in May and August this year) would serve to boost net interest income (given that 90 per cent of the loan book is linked to this rate), is driving interest in this stock. Analysts maintain that the banks net interest margins should go up to 3.1 per cent by end of this fiscal on account of the hike in PLR and renewed focus on CASA deposits. The government holding in the stock is currently around 66.5 per cent, which serves as a cushion to manage capital adequacy levels, said analysts.

Deeptha Rajkumar

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