BUY |Target Price: Rs. 245 | Upside: 34% Investment Summary Ajcon's view At CMP, the stock is available at attractive valuation of P/BV: 0.49x (FY13 Book value) which we feel is undervalued considering Bank's good performance in all fronts despite stressful economic conditions and peer PSU banks reporting dismal numbers with higher P/BV ratio. The bank scrip tanked 4.55 percent to Rs 183.50 on announcement of Q1FY14 result on the BSE, whose 30-share benchmark Sensex ended the session with 0.29 percent losses. The bank is not affected much on the liquidity and the costs front as a result of the recent RBI moves to tighten liquidity, conceding that treasury operations can face some...