Key Points
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'..
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..
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..
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...
We reiterate our BUY rating with a target price of Rs 240 which is premised on 1.1X September 24E ABV, it said.. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own..
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