Buy Bank of Baroda, target price Rs 127: IIFL

IIFL has buy call on Bank of Baroda with a target price of Rs 127. The current market price of Bank of Baroda is Rs 119.8. Time period given by analyst is Intra Day when Bank of Baroda price can reach defined target.

Bank of Baroda, incorporated in the year 1911, is a banking company (having a market cap of Rs 62004.63 Crore).

Bank of Baroda key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest and Interest On Balances with RBI and Other Inter-Bank Funds for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 22072.99 Crore, up .34 % from last quarter Total Income of Rs 21998.76 Crore and up .01 % from last year same quarter Total Income of Rs 22070.52 Crore. The bank reported net profit after tax of Rs 2463.75 Crore in latest quarter.

Investment Rationale
The stock has given a rounding bottom breakout in hourly time frame


Promoter/FII Holdings
Promoters held 63.97 per cent stake in the company as of 31-Dec-2021, while FIIs owned 7.37 per cent, DIIs 14.66 per cent.