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Shares of state-run Bank of Baroda Ltd rose as much as 3.4 per cent to Rs 180.30, their highest since Oct 30.
The bank posted a 36 per cent fall in September-quarter net profit due to higher provisions for bad loans Gross NPA ratio declined to 11.16 per cent in September-quarter from 11.40 per cent in the previous quarter.
CIMB has raised the price target to Rs 220 from Rs 190 and retained “add” rating on the stock. It said asset quality pressures were receding and growth outlook remained robust
Jefferies said Q2 trends reflected a steady improvement in core fundamentals and NPL recognition nearing completion, although it didn't rule out a few lumpy slippages. Jefferies has raised its target price to Rs 180 from Rs 155 and maintained "hold".
Twenty three of 42 brokerages rated the stock “buy” or higher, 12 "hold” and 7 “sell” or lower; and their median PT was Rs 180, according to Thomson Reuters Eikon data
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