Feb 15, 2017 12:57 PM IST | Source:

Accumulate Bank of Baroda; target of Rs 205: KR Choksey

KR Choksey has recommended accumulate rating on Bank of Baroda with a target price of Rs 205 in its research report dated February 13, 2017.

  • bselive
  • nselive
Todays L/H

KR Choksey's research report on Bank of Baroda

Net profit for Q3FY17 for Bank of Baroda stood at INR 2.53 bn increased by 108% on Y-o-Y basis (on a lower base) on the back of stupendous surge in noninterest income (60% on Y-o-Y basis) and lower provisions. Net interest income for the quarter increased by 16% on Y-o-Y basis on the back of lower interest expense for the quarter gone by. The controlled operating expense led Cost to income ratio to improve substantially.


While the total slippages stood elevated on Q-o-Q basis, total reductions stood positive, largely due to the write offs; total gross NPA stood stable on Q-o-Q basis. While the clean-up exercise will have its fall-on effects depressing return ratios for FY17. While asset quality remains under pressure, we reiterate ACCUMULATE stance and maintain long term positive bias.

For all recommendations, click here

The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.
Follow us on
Available On