Buy on Oriental Bank of Commerce

Buy on Oriental Bank of Commerce with a target price of Rs 181. "In 1QFY09, Oriental Bank of Commerce remained flat at Rs 4.5 billion compared to our estimates of Rs 4.7 billion; slightly lesser than our estimates mainly due higher cost of deposits. NIM declined by 36 bps (Y / Y) to 2.4% and 2.1% in 4QFY08."