Bank of Baroda may test Rs 220, says Nitin Kumar

Nitin Kumar, Analyst at Prabhudas Liladher told CNBC-TV18, "Bank of Baroda (BoB) has been a preferred pick for us within the public sector undertaking (PSU) space. Our price target has been around Rs 220 which is now not very far from where the price is right now. The rally which started off from Rs 150 which is where the stock was around the result, it is almost 40-45 percent move that that stock has given.""The downside in PSU banks looks a little capped which was not the case when we started off the earnings this quarter. The outperformance from here would depend on how things actually pan out in terms of the fundamental performance both on earnings and asset quality. The chances of which are looking much better than it was a month back," he said.