On May 08,2009, Andhra Bank had come out with a better then expected results and its Board has recommended a dividend of Rs. 4.50ps per share for the financial year 2008-09.
The valuation of the bank looks impressive.
TIP: For intra day Buy Andhra Bank at 62.30 with a stoploss of 61.65 and sell at 63.95.
Note: At 10.55 A.M, Andhra Bank is trading at 63.
For long term, traders may take the script for delivery and sell at 73-78 levels with a stoploss of 56.