Bank of Baroda’s shares rise after the lender reports a 36% year-on-year increase in second-quarter net profit and brokerages respond with generally constructive views. The stock climbs by about 3% to 5% in the reports, with buying lifting it above the prior close.
The Economic Times says Q2 net profit reaches Rs 6,532 crore, supported by one-time gains from selling part of its stake in the National Stock Exchange. It also reports higher net interest income and non-interest income, alongside a decline in net interest margin. NDTV highlights improving asset quality and stronger credit growth as factors in brokerages’ optimism.
Across coverage, Nomura is cited for keeping a Neutral rating while trimming its target, alongside mentions of other brokerages raising or maintaining targets and adjusting profit forecasts. The overall context is an outlook that includes updated credit and deposit growth guidance and expectations of margin movement as policy-rate effects pass through.
