Fundamental Result Update

Bank of Baroda



Bank of Baroda reported Operating Profit of Rs. 2,595 Cr in Q3 FY 2017 as against Rs. 1,704 Cr in corresponding quarter previous year, a growth of 52%. The bank reported net profit of Rs 253 crs for the quarter against loss of Rs 3,342 crs in corresponding quarter of previous year.

Valuation: At CMP of Rs 169 the stock is trading at P/ABV multiple of 1.6(x). We have valued stock on P/ABV(x) of 2 (x) on its FY 18E ABV of Rs 105 per share and have arrived at fair value of Rs 210. We have BUY rating on the stock.


Tags: FundamentalResult Update


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