Moneycontrol PRO
Upcoming Webinar:Watch a panel of experts discuss: Challenges of continuously evolving regulation for Cryptocurrency, on 7th July at 3pm. Register Now

Buy Bank of Baroda: target of Rs 128: Sharekhan

Sharekhan is bullish on Bank of Baroda has recommended buy rating on the stock with a target price of Rs 128 in its research report dated May 13, 2022.

May 17, 2022 / 07:38 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Sharekhan's research report on Bank of Baroda


BOB reported healthy loan growth of 10% y-o-y/6% q-o-q versus 4% y-o-y in the past quarter, led by strong growth in retail (17% y-o-y), agri book (10% y-o-y), and overseas book (21%). Core operating profit grew by 57%y-o-y/ 10% q-o-q due to higher net interest income, fee income, and contained opex. NII grew by 21% y-o-y/1% q-o-q, led by higher loan growth. NIM fell 5 bps q-o-q to 3.08%. Core fee income grew by 6% y-o-y/19% q-o-q. Asset quality improved sharply with GNPA and NNPA ratios falling by 64 bps/53 bps q-o-q to 6.60%/1.72%. PCR improved 468 bps q-o-q to 75%.



Outlook


We maintain Buy with an unchanged PT of Rs. 128.

Close

For all recommendations report, click here


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

Broker Research
first published: May 17, 2022 07:38 pm
Sections
ISO 27001 - BSI Assurance Mark