Buy Bank of Baroda, target price Rs 208: Religare Broking

Religare Broking has buy call on Bank of Baroda with a target price of Rs 208. The current market price of Bank of Baroda is Rs 197.1. Religare Broking recommended to keep stop loss at Rs 188.

Bank of Baroda, incorporated in the year 1911, is a banking company (having a market cap of Rs 101979.26 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-2023.


Financials
For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 33318.13 Crore, up 2.43 % from last quarter Total Income of Rs 32528.06 Crore and up 54.42 % from last year same quarter Total Income of Rs 21576.76 Crore. The bank has reported net profit after tax of Rs 4483.16 Crore in latest quarter.

Investment Rationale
Formed a fresh base around 100 EMA. Looks set for resumption of uptrend now.

Promoter/FII Holdings
Promoters held 63.97 per cent stake in the company as of 30-Jun-2023, while FIIs owned 12.29 per cent, DIIs 15.66 per cent.