According to CLS, the book value of the bank for the financial year 2023 is undemanding. Foreign brokerages raised the bank’s earnings estimate by 4-5 per cent and the target price has also been increased from Rs 125 to Rs 130.
Bank of Baroda Share
The country’s largest public sector bank SBI has made investors rich in one year. Now a report has also come out about Bank of Baroda in which it is believed that in the coming days, the stock of this bank can be rewarded to investors. In fact, global brokerage firm CLSA says that the stock of Bank of Baroda can see a jump of 60 percent during 6 to 12 months. CLSA has also given some reasons for this boom.
According to the CLSA report, the corporate credit cycle of the bank is changing and the bank has sufficient capital due to recent capital raising. Retail asset quality has also strengthened during the corona of the Bank of Baroda. The current valuation of Bank of Baroda is 0.55 times.
Earnings estimate also increased
According to CLS, the book value of the bank’s financial year 2023 is undemanding. Foreign brokerages raised the earnings estimates of the bank by 4-5 per cent and also raised the target price from Rs 125 to Rs 130. In Monday’s trade, the bank’s stock closed at Rs 80.70, down 3.76 per cent. Bank of Baroda’s corporate credit cycle is changing and the bank has enough capital to raise capital recently. Due to all this, the global brokerage firm has also increased the earnings estimates of the bank.
Such were the quarterly results
Talking about the quarterly results of the bank, in the March quarter, the bank had a loss of Rs 1047 crore. But the net interest income has increased by 4 per cent year-on-year to Rs 7,107 crore. Earlier in the December quarter, Bank of Baroda had a net profit of Rs 1,061 crore. At the same time, Credit Suisse has also given neutral rating to the bank. Talking about Emkay Global, this stock has got ‘buy’ rating from here too.
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