Buy Bank of Baroda, target price Rs 80: Yes Securities

Yes Securities has buy call on Bank of Baroda with a target price of Rs 80. The current market price of Bank of Baroda is Rs 74.15.

Bank of Baroda, incorporated in the year 1911, is a banking company (having a market cap of Rs 38319.79 Crore).

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 22070.52 Crore, up .99 % from last quarter Total Income of Rs 21853.79 Crore and down -4.60 % from last year same quarter Total Income of Rs 23134.67 Crore. The bank reported net profit after tax of Rs 1195.96 Crore in latest quarter.


Investment Rationale
Post 32% decline off the February month, the stock is gradually gaining positive traction. Positive follow through could lift the stock till Rs 80 zone

Promoter/FII Holdings
Promoters held 71.6 per cent stake in the company as of Sept 30, 2020, while FIIs held 3.94 per cent, DIIs 11.10 per cent and public and others 13.36 per cent.