Bank of Baroda, incorporated in the year 1911, is a banking company (having a market cap of Rs 43361.87 Crore). Bank of Baroda key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest and Interest On Balances with RBI and Other Inter-Bank Funds for the year ending 31-Mar-2021.
Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 21355.53 Crore, down -10.13 % from last quarter Total Income of Rs 23762.09 Crore and down -1.52 % from last year same quarter Total Income of Rs 21684.71 Crore. The bank reported net profit after tax of Rs 1227.36 Crore in latest quarter.
Investment Rationale
The share price of Bank of Baroda has recently generated a breakout above the falling supply line joining the previous highs of June 2021 (Rs 89) and August 2021 (Rs 85) signaling resumption of up move and offers fresh entry opportunity. Going ahead, the brokerage expects the stock to extend the current up move and head towards Rs 91 levels as it is the 123.6% external retracement of the last two months breather (Rs 89-73).
Promoter/FII Holdings
Promoters held 63.97 per cent stake in the company as of the fourth quarter ending March 31, 2021, while FIIs held 6.89 per cent, DIIs 15.52 per cent and public & others 13.62 per cent.
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