It appears to be an outperformer amongst mid cap companies. On charts, the scrip is above its 200 DMA which is one of the major indicators of strenght at the counter. One may hold the scrip at current levels with a stop loss of Rs 152.
Coming to your second question of under valued scrips. While there is nothing called under valued in market. There are reasons why any stock is quoting at a certain price, some of those reason are in public domain and some are known to only few. But in context of your question some of the public sectors banks with high dividend yields are the once you may look at . Though worst might still not be over for Banking sectors with threat of double digit inflation still looming large. But those banks still give an opportunity to participate in Indian growth story in medium term.