Oriental Bank of Commerce gains on Goldman Sachs upgrade

Oriental Bank of Commerce gained after Goldman Sachs upgraded the stock to "buy" from "neutral"

Shares of Oriental Bank of Commerce have gained nearly 3.5% to Rs 232 on the BSE after Goldman Sachs upgraded the stock to “buy” from “neutral” with a target price of Rs 350.

 

Citing valuations after recent fall it expects Oriental Bank's fundamentals to improve, including better return on assets. 

 

Oriental Bank of Commerce is an India-based bank established in Lahore, is one of the public sector banks in India.

 

The stock opened at Rs 222, touched a high of Rs 232 and a low of Rs 222 on the BSE. A total of 90,713 shares have been exchanged on the BSE so far.