Bank of Baroda tanks 5% post Q4 results but analysts see up to 55% upside

While risk from the second wave of Covid-19 remains for its retail book, the corporate cycle is clearly turning, and hence BoB will also benefit from this trend, says CLSA

Bank of Baroda shares tumbled 5.6 per cent to Rs 79 apiece on the BSE in Monday's intra-day deals, but closed 3.7 per cent lower at Rs 81 per share, as the public sector lender's provisions and contingency funds soared 44 per cent to Rs 4,593 crore in March quarter of FY21 (Q4FY21) as against Rs 3,191 crore in the year-ago period. The bank made provisions to the tune of Rs 2,080 crore in the December quarter (Q3FY21).

Yet analysts remain bullish on the state-owned lender from a long-term perspective as they believe it is on a firm footing to