The total interest income was also down by 6.33 percent to Rs 16,692 crore, as against Rs 17,820 crore in the year-ago quarter.
‘); $ (‘#lastUpdated_’+articleId).text(resData[stkKey][‘lastupdate’]); //if(resData[stkKey][‘percentchange’] > 0){ // $ (‘#greentxt_’+articleId).removeClass(“redtxt”).addClass(“greentxt”); // $ (‘.arw_red’).removeClass(“arw_red”).addClass(“arw_green”); //}else if(resData[stkKey][‘percentchange’] = 0){ $ (‘#greentxt_’+articleId).removeClass(“redtxt”).addClass(“greentxt”); //$ (‘.arw_red’).removeClass(“arw_red”).addClass(“arw_green”); $ (‘#gainlosstxt_’+articleId).find(“.arw_red”).removeClass(“arw_red”).addClass(“arw_green”); }else if(resData[stkKey][‘percentchange’] 0) { var resStr=”; var url = ‘//www.moneycontrol.com/mccode/common/saveWatchlist.php’; $ .get( “//www.moneycontrol.com/mccode/common/rhsdata.html”, function( data ) { $ (‘#backInner1_rhsPop’).html(data); $ .ajax({url:url, type:”POST”, dataType:”json”, data:{q_f:typparam1,wSec:secglbVar,wArray:lastRsrs}, success:function(d) { if(typparam1==’1′) // rhs { var appndStr=”; var newappndStr = makeMiddleRDivNew(d); appndStr = newappndStr[0]; var titStr=”;var editw=”; var typevar=”; var pparr= new Array(‘Monitoring your investments regularly is important.’,’Add your transaction details to monitor your stock`s performance.’,’You can also track your Transaction History and Capital Gains.’); var phead =’Why add to Portfolio?’; if(secglbVar ==1) { var stkdtxt=’this stock’; var fltxt=’ it ‘; typevar =’Stock ‘; if(lastRsrs.length>1){ stkdtxt=’these stocks’; typevar =’Stocks ‘;fltxt=’ them ‘; } } //var popretStr =lvPOPRHS(phead,pparr); //$ (‘#poprhsAdd’).html(popretStr); //$ (‘.btmbgnwr’).show(); var tickTxt =’‘; if(typparam1==1) { var modalContent = ‘Watchlist has been updated successfully.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //var existsFlag=$ .inArray(‘added’,newappndStr[1]); //$ (‘#toptitleTXT’).html(tickTxt+typevar+’ to your watchlist’); //if(existsFlag == -1) //{ // if(lastRsrs.length > 1) // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exist in your watchlist’); // else // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exists in your watchlist’); // //} } //$ (‘.accdiv’).html(”); //$ (‘.accdiv’).html(appndStr); } }, //complete:function(d){ // if(typparam1==1) // { // watchlist_popup(‘open’); // } //} }); }); } else { var disNam =’stock’; if($ (‘#impact_option’).html()==’STOCKS’) disNam =’stock’; if($ (‘#impact_option’).html()==’MUTUAL FUNDS’) disNam =’mutual fund’; if($ (‘#impact_option’).html()==’COMMODITIES’) disNam =’commodity’; alert(‘Please select at least one ‘+disNam); } } else { AFTERLOGINCALLBACK = ‘overlayPopup(‘+e+’, ‘+t+’, ‘+n+’)’; commonPopRHS(); /*work_div = 1; typparam = t; typparam1 = n; check_login_pop(1)*/ } } function pcSavePort(param,call_pg,dispId) { var adtxt=”; if(readCookie(‘nnmc’)){ if(call_pg == “2”) { pass_sec = 2; } else { pass_sec = 1; } var url = ‘//www.moneycontrol.com/mccode/common/saveWatchlist.php’; $ .ajax({url:url, type:”POST”, //data:{q_f:3,wSec:1,dispid:$ (‘input[name=sc_dispid_port]’).val()}, data:{q_f:3,wSec:pass_sec,dispid:dispId}, dataType:”json”, success:function(d) { //var accStr= ”; //$ .each(d.ac,function(i,v) //{ // accStr+=”+v.nm+”; //}); $ .each(d.data,function(i,v) { if(v.flg == ‘0’) { var modalContent = ‘Scheme added to your portfolio.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //$ (‘#acc_sel_port’).html(accStr); //$ (‘#mcpcp_addportfolio .form_field, .form_btn’).removeClass(‘disabled’); //$ (‘#mcpcp_addportfolio .form_field input, .form_field select, .form_btn input’).attr(‘disabled’, false); // //if(call_pg == “2”) //{ // adtxt =’ Scheme added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //else //{ // adtxt =’ Stock added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //$ (‘#mcpcp_addprof_info’).css(‘background-color’,’#eeffc8′); //$ (‘#mcpcp_addprof_info’).html(adtxt); //$ (‘#mcpcp_addprof_info’).show(); 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Bank of Baroda share price rose 2 percent in the early trade on November 11 a day after the company reported its September quarter earnings.
Public sector lender Bank of Baroda on Wednesday reported over 24 percent rise in its net profit at Rs 2,088 crore in quarter ended September 2021. The bank had posted a net profit of Rs 1,679 crore in the year-ago period.
However, the bank’s total income during the July-September quarter of 2021-22, fell to Rs 20,270.74 crore, as against Rs 20,729.31 in the same period of 2020-21, Bank of Baroda said in a regulatory filing.
The total interest income was also down by 6.33 percent to Rs 16,692 crore as against Rs 17,820 crore in the year-ago quarter.
The non-interest income rose by 23 percent to Rs 3,579 crore, from Rs 2,910 crore.
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Here is what brokerages have to say about the stock and the company post September quarter earnings:
Jefferies
Broking house has maintained underperform rating and raised the target to Rs 82 from Rs 70 per share as the Q2 profit was ahead of estimate due to lower provisions.
However, the slippages stayed elevated at 3.5% of loans and gross NPL at 8.1% & restructured loans at 3%.
Jefferies raises estimate but core PPOP/assets is low, will keep RoE sub-10%.
CLSA
CLSA has maintained buy call and raised the target price to Rs 140 per share.
The bank is beneficiary of corporate recovery cycle.
The strong asset quality performance adjusted for SREI group. It expect credit costs to normalise to 120- 125 bps by FY23 and expect 10.8-11% RoE by FY23/24.
Credit Suisse
Brokerage house has kept outperform call and raised the target price to Rs 120 from Rs 100 per share.
The growth is picking up, with healthy asset quality outcomes. Its CET is healthy at 11.4% and expect RoE to improve to > 10%.
FY22E EPS estimate increased by 15% on lower provisions.
Motilal Oswal
Bank Of Baroda reported a strong earnings performance, supported by lower provisions and higher other income, even as NII remained under pressure. Domestic NIM moderated by 22bp QoQ to 2.9%.
Business trends, however, improved with advances growing at 4% QoQ, led by the Corporate and Retail book. The management expects the growth momentum to continue, led by the Retail segment, while the Corporate book continues to see a gradual recovery.
The bank reported an improvement in asset quality, with CE increasing to 96%.
We increase our FY22E/FY23E earnings estimate sharply by 39%/14% and expect a RoA/RoE of 0.7%/10.9% by FY23E. We maintain our buy
rating with a revised target price of Rs 130 per share (0.9x Sep’23E ABV).
LKP Research
We expect BoB to post a ROA/ROE of 0.6%/8.7% by FY23E led by stable balance sheet growth along with higher PCR and steady asset quality.
We value the standalone bank at PBV of 0.9xFY23E Adj. BVPS of Rs 137 to arrive at a price target of Rs 124 (revised upwards).
We recommend buy with potential upside of 23%.
At 09:17 hrs Bank Of Baroda was quoting at Rs 102.60, up Rs 1.95, or 1.94 percent on the BSE.
with inputs from PTI
Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
