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Why did investors bank on Dena Bank on Monday even as the BSE Bankex and the Bank Nifty dropped over one per cent respectively? Some on Dalal Street has identified this stock, one of the lowest priced in the sector, as future multi-bagger.

"Consider its aggressiveness and the outsourcing model with a long-term contract with Wipro and Infosys and its plan to cover 850 branches with this model," said an analyst.

The bank cleaned up its balance sheet much faster than expected by the market. It is also getting into Internet and phone banking in a big way in phases. Dena Bank placed bonds to raise upper tier-II capital worth Rs 300 crore, including green-shoe option of Rs 150 crore, during June-September quarter this fiscal.

Jayanta Mallick

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