Bank of baroda share price

Synopsis Bank of Baroda's shares increased after reporting strong Q4 earnings, with CLSA, Kotak Institutional Equities, and Motilal Oswal rating the lender as a 'Buy'. Meanwhile, Macquarie stood neutral after the Q4 report. The net interest income for the quarter rose by 33.8% to Rs 11,525 crore, with a YoY growth of 26.8% at Rs 41,355 crore for FY23. However, analysts have warned that RoEs are reliant on credit costs, and MOSL has cautioned that further ECL provisioning is required. At 9:35 am, the stock was trading at Rs 188.90 on the NSE and was up by Rs 2.40 or 1.29% from the last closing price. The state-run bank reported a standalone net profit of Rs 4,775 crore, up 168% year-on-year (YoY) for the fourth quarter ended March 2023. In the same quarter of last year, it posted a net profit of Rs 1,779 crore. Here’s what brokerages recommend on the stock: CLSA: Buy | Target: Rs 225 CLSA maintains a 'Buy' rating on BoB for a target of Rs 225. It has revised the earnings by 4-12% on expectations of strong growth going ahead. The brokerage noted that ECL (Expected Credit Loss) requirements are comforting and negligible net slippages continue. High share of MCLR loans should benefit PSU bank NIMS. Macquarie: Neutral | Target: Rs 180 Macquarie maintains a 'Neutral' stance on the BoB stock, with a price target of Rs 180. The foreign brokerage said that margin protection and loan growth remain key focus areas for the public lender while profitability will hinge on the credit cos...

Bank of Baroda engages in the provision of commercial banking services. It operates through the following segments: Treasury; Corporate and Wholesale Banking; Retail Banking; and Other Banking Operations. The Treasury segment includes the entire investment portfolio and trading in foreign exchange contracts and derivative contracts. The Corporate and Wholesale Banking segment comprises the lending activities of borrowers. The Retail Banking segment comprises of borrower accounts. The company was founded by Sayajirao Gaekwad III on July 20, 1908 and is headquartered in Vadodara, India. The price is at an interesting stage, within 10% of its 5 year high of 206.6. Breakout above this could see positive momentum. However, as always, keep a stop loss of 5-8% if the trade goes wrong. The price is at an interesting stage, within 10% of its 5 year high of 206.6. Breakout above this could see positive momentum. However, as always, keep a stop loss of 5-8% if the trade goes wrong. BANK OF BARODA has formed Ascending Triangle Pattern and started to gave a breakout from 169 as that was resistance level. Based on the pattern, one can enter around 180 and target can be set around 223 with Stoploss to be set around 160. Disclaimer: This idea is only for education purpose, Please BANK OF BARODA has formed Ascending Triangle Pattern and started to gave a breakout from 169 as that was resistance level. Based on the pattern, one can enter around 180 and target can be set around 223 with Stop...

Made provision for Go-Air exposure; ECL provision to be at 1.1% of book: The GNPA and NNPA ratio inched down meaningfully to 3.79%/0.89% (v/s 4.53%/0.99% in 3QFY23) because of moderate slippages and higher upgrades and write-offs. The PCR including technical write-off stood 92% of GNPLs. The absolute GNPA reduced by 12.2% sequentially and 32% YoY. Go-Air account is standard and has an exposure of Rs 13bn. The bank has made provision of Rs 5bn in this quarter. It has tangible collateral of more than Rs 10bn against the exposure. In 4QFY23, the fresh slippages were at slightly higher level of Rs 22.4bn v/s Rs 21.7bn in the previous quarter. Corporate book contributed a mere 2% of the slippages amount while retail contribution was at 19%. SME book has slippages contribution of 54%. The reduction (up-gradation, recovery & write-offs) stood Rs 78.4bn v/s Rs 73.9bn in the previous quarter. The Bank’s SMA 1&2 book down sequentially at around to 32bps. Restructured book reduced to Rs 160bn v/s Rs 185bn in 3QFY23. The Bank has made provisioning of Rs 14bn; mainly standard asset related provisions of Rs 4.2bn. The provision for NPAs were Rs 3.2bn (Credit cost: 0.14% v/s 0.37% in 3QFY23). ECL provision are expected to be at 1% - 1.15% of loan book Healthy credit growth: The bank’s net advances stood at Rs 9.4tn; grew by 21.1% YOY and 5.6% QOQ. Retail (18.4% contribution), Corporate (35.1% contribution) and Agriculture (12.8% contribution) grew by 6.7%, 3.4% and 4.2% QoQ respectively....

Sanjiv Chadha's insights shed light on the banking industry's response to the challenges posed by the COVID-19 pandemic. Bank of Baroda, under his leadership, successfully navigated the turbulent times by embracing change, attracting top talent, fostering a performance culture, and adhering to a strong ethics agenda. These strategic initiatives have positioned the bank for continued success and growth in the dynamic financial landscape. The MD and CEO said an integral part of the bank's transformation journey was the establishment of a performance-oriented culture. Chadha said this focus on building a culture that rewards excellence and promotes accountability helped the bank achieve its goals and deliver value to its stakeholders. Chadha said the bank made a conscious effort to create an ethics agenda for itself. Upholding high ethical standards and conducting business with integrity became a fundamental aspect of Bank of Baroda's operations. “For any transformation, there should be an opportunity and then there needs to be an agenda. The opportunity was there,” he said.

Technicals On the technical charts, the relative strength index (RSI) of the stock stood at 27.12. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Chartists say, RSI should not be seen in isolation, as it may not be sufficient to take a trading call, just the way fundamental analysts cannot give a'buy' or'sell' recommendation using a single valuation ratio. Don’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp. • 819.90 03:59 PM | 13 Jun 2023 19.15 (2.39%) 981.50 03:57 PM | 13 Jun 2023 21.55 (2.24%) 3,262.85 03:59 PM | 13 Jun 2023 68.10 (2.13%) 2,912.50 03:57 PM | 13 Jun 2023 59.90 (2.10%) • 1,855.95 03:59 PM | 13 Jun 2023 -23.50 (-1.25%) 2,462.55 03:59 PM | 13 Jun 2023 -22.25 (-0.90%) 1,131.30 03:59 PM | 13 Jun 2023 -8.35 (-0.73%) 1,373.15 03:59 PM | 13 Jun 2023 -8.25 (-0.60%)