Bob shares: The veteran PSU Bank BOB today broke the shares to a year low on the result of the December quarter. Bank of Baroda (BOB) released the quarter results on Thursday 30 January and today shares were shocked on 31 January. The brokerage firm reduced the target price, it also put a lot of pressure on the shares. Today, it has closed at ₹ 213.40 with a decline of 4.07 per cent on BSE today at the end of the day. It fell 5.10 per cent to one year low at ₹ 211.10 in intra-day. Last year, on 3 June 2024, it reached a record high of ₹ 298.45.
After all, why did the shares of the broken bob?
Bank of Baroda’s consolidated net profit rose 5.6 per cent to Rs 4837 crore on an annual basis. The result released on Thursday after the closure of the equity market was disclosed that the bank’s total income increased from ₹ 31,416 crore to ₹ 34,676 in the December quarter. Gross NPA also fell from 3.08 per cent to 2.43 per cent and NPA from 0.70 per cent to 0.59 per cent on an annual basis. Despite all these positives, the shock seemed that its net was less than Interest Income Estimate and at the same time the net interest margin fell 2 per cent on a quarter basis. In the December quarter, the bank’s net interest margin rose 2.8 per cent to Rs 11,417 crore on a annual basis. Due to this, Brokerage reduced the target price and the shares were shocked and it slipped.
What is the target price now for investment in Bank of Baroda?
In the December quarter, the results of the Bank of Baroda were weakened by expected, the brokerage reduced the target price. Jeffers and HSBC have reduced its target price to ₹ 250. Nuwama says Non-Interest Income and Credit Cost was better than expected but Net Interest Income (NII) was weaker than expected. In such a situation, Nuwama has reduced its target price from ₹ 277 to ₹ 265 now.
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