Bank Of Baroda Receives 'Buy' Rating from MarketsMOJO, Shows Strong Fundamentals and Potential for Growth

Bank Of Baroda, one of the leading public banks in India, has recently received a 'Buy' rating from MarketsMOJO on April 15, 2024. This upgrade is based on the company's strong provisioning practices, with a Provision Coverage Ratio of 71.26%, and its impressive long-term fundamental strength, with a 65.82% CAGR growth in net profits.
The company has also shown consistent positive results for the past 11 quarters, with a low Gross NPA(Q) of 3.08% and a high PAT(HY) of Rs 8,832.22 crore, which has grown at a rate of 23.25%. In addition, Bank Of Baroda has the highest Interest Earned(Q) at Rs 28,605.14 crore.

From a technical standpoint, the stock is currently in a mildly bullish range and the key technical factor, MACD, has been bullish since April 15, 2024. With a ROA of 1.1, the stock is attractively valued with a price to book value of 1.2. However, it is trading at a premium compared to its average historical valuations.

Over the past year, Bank Of Baroda has generated a return of 52.57%, outperforming the BSE 500 index. Its profits have also risen by 59.1%, resulting in a low PEG ratio of 0.1. This indicates that the stock is undervalued and has potential for future growth.

Moreover, the company has a high institutional holding of 28.27%, which shows that these investors have better capability and resources to analyze the fundamentals of companies compared to retail investors. Bank Of Baroda has also consistently delivered strong returns over the last 3 years, outperforming the BSE 500 index each year.

In conclusion, with its strong fundamentals, consistent positive results, and attractive valuation, Bank Of Baroda is a promising stock to consider for investment.