ETBFSIRelated
Motilal Oswal has neutral call on with a target price of Rs 85. The current market price of Bank of Baroda is Rs 80.5.
Bank of Baroda, incorporated in the year 1911, is a banking company (having a market cap of Rs 41758.75 Crore).
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 23762.09 Crore, up 7.66 % from last quarter Total Income of Rs 22070.52 Crore and up 5.19 % from last year same quarter Total Income of Rs 22589.84 Crore. The bank reported net profit after tax of Rs -740.79 Crore in latest quarter.
Investment Rationale
Collection efficiency improves to 93%, but remains lower v/s other peers. On the asset quality front, GNPA/NNPA ratio improved v/s pro forma GNPA/NNPA as of De’20. Total restructuring stood ~1.3% of advances (INR94b), while SMA-1/2 stood at 3.9% of loans. The brokerage remains watchful of the impact of the second COVID wave on asset quality and estimate credit cost to stay elevated at 2.1% for FY22E
Promoter/FII Holdings
Promoters held 64 per cent stake in the company as of March 31, 2021, while FIIs held 6.9 per cent, DIIs 15.9 per cent and public and others 13.2 per cent.
(Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.)
Bank of Baroda, incorporated in the year 1911, is a banking company (having a market cap of Rs 41758.75 Crore).
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 23762.09 Crore, up 7.66 % from last quarter Total Income of Rs 22070.52 Crore and up 5.19 % from last year same quarter Total Income of Rs 22589.84 Crore. The bank reported net profit after tax of Rs -740.79 Crore in latest quarter.
Investment Rationale
Collection efficiency improves to 93%, but remains lower v/s other peers. On the asset quality front, GNPA/NNPA ratio improved v/s pro forma GNPA/NNPA as of De’20. Total restructuring stood ~1.3% of advances (INR94b), while SMA-1/2 stood at 3.9% of loans. The brokerage remains watchful of the impact of the second COVID wave on asset quality and estimate credit cost to stay elevated at 2.1% for FY22E
Promoter/FII Holdings
Promoters held 64 per cent stake in the company as of March 31, 2021, while FIIs held 6.9 per cent, DIIs 15.9 per cent and public and others 13.2 per cent.
(Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.)
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