4% Fall Today: PL Sees This PSU Bank Stock Soaring 22.86%, Raises Buy Call With TP Rs 240

Prabhudas Lilladher has recommended buy rating to public sector lender Bank of Baroda with target price of Rs 240 per share. Current market price of Bank of Baroda share on BSE is Rs 195.35 apiece with intraday fall of 4.12%. Bank Of Baroda stock surged 35% in last 1-year and soared 327% in last 3-years. Check details below:

Bank Of Baroda Stock Outlook & Return: Last trading price of Bank Of Baroda share on BSE is Rs 195.35 per share with intraday fall of 4.12% till 10:40 am today. If you buy Bank Of Baroda shares at this price today, you can fetch potential return of 22.86%. The stock's 52-week high price is Rs 219.60 per share and 52-week low price is Rs 143.65 per share, respectively. The bank has a market capitalisation of Rs 1,01,203.56 crore. Bank Of Baroda offered shareholders return of 6.76% in last 6-months, gained 35% in last 1-year, soared 90% in last 2-years, and offered a rally of 327% in last 3-years. In last 5-years, Bank Of Baroda shares witnessed a rally of 77.19%.

Bank Of Baroda Valuation: According to Gaurav Jani - Research Analyst, Prabhudas Lilladher Pvt Ltd., "BoB has decided to slow down wholesale deposits and focus on garnering CASA via RM-based model. Apart from stressed airline (Rs17.7bn), a middle-east based account from real estate sector slipped to NPA. We maintain our multiple at 1.1x but increase TP from Rs235 to Rs 240 as we roll forward to Sep'25 ABV. Retain 'BUY'."

Bank Of Baroda Quarterly Results: The leading public sector back announced a surge of 28.4% in its net profit for the quarter ended September 30, 2023 to Rs 4253 crore as against the corresponding quarter of last year. The bank's total income from operations surged 39% on year to Rs 32, 033 crore. It declared its net interest income up by 6.5% YoY to Rs 10,831 crore. NII can be explained at the sum of money earned from interest income barring the amount spent on interest payments. The bank declared its operating profit for the quarter up by 33% on year to Rs 8020 crore. It reported its cost to income ratio down to 46.54% from 49.74% a year ago.

About Bank of Baroda: It is India's leading public sector bank with a strong domestic presence supported by self- service channels. The Bank has a significant international presence with a network of 100 branches/offices of subsidiaries, spanning 20 countries. The Bank has wholly owned subsidiaries including BOB Financial Solutions Limited (erstwhile BOB Cards Ltd.), BOB Capital Markets and Baroda Asset Management India Ltd. Bank of Baroda also has joint ventures for life insurance viz. IndiaFirst Life Insurance Company Limited and India Infradebt Ltd., engaged in infrastructure financing. The Bank owns 98.57% in The Nainital Bank.

Disclaimer:

The stock has been picked from the brokerage report of Prabhudas Lilladher. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.