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(From Business Line)
from BUSINESS LINE, December 25, 2005 INVESTMENTS in Vijaya Bank can be considered at about Rs 60. The stock's valuation is at a discount to those of several public sector bank stocks. Vijaya Bank is trading at a price to book ratio of about 1.6 times while most other public sector banks are trading at a ratio of about 2 times or higher. Vijaya Bank's dividend yield is also the highest amongst banks
There are reasons behind the poor valuation accorded to Vijaya Bank. First, with the Government holding about 53.9 per cent, Vijaya Bank's access to equity capital needed to fund business growth was perceived as being constrained. Equally …