Bank of Baroda rose 3.25% to Rs 160.55 at 13:01 IST on BSE after a foreign brokerage reportedly upgraded the stock to buy from neutral.
Meanwhile, the S&P Sensex was down 45.72 points or 0.15% at 30,811.80.
On the BSE, 9.16 lakh shares were traded on the counter so far as against the average daily volumes of 10 lakh shares in the past one quarter. The stock had hit a high of Rs 161.20 and a low of Rs 156.50 so far during the day. The stock had hit a 52-week high of Rs 202.45 on 5 May 2017 and a 52-week low of Rs 136 on 9 November 2016.
The stock had underperformed the market over the past one month till 29 June 2017, falling 12.64% compared with 0.81% fall in the Sensex. The scrip also underperformed the market in past one quarter, sliding 10.09% as against Sensex's 4.49% gains. The scrip had also underperformed the market in past one year, rising 0.97% as against Sensex's 15.4% gains.
The large-cap bank has equity capital of Rs 460.83 crore. Face value per share is Rs 2.
A foreign brokerage reportedly upgraded the Bank of Baroda stock to buy from neutral with a target price of Rs 200. The outlook for its pre-provision operating profit (PPOP) is better than its rivals, due to expected improvements in its net interest margins, the brokerage said. PPOP is forecasted to grow at an average rate of roughly 13% between 2017-19, it added.
Bank of Baroda reported net profit of Rs 154.72 crore in Q4 March 2017, as compared with net loss of Rs 3230.14 crore in Q4 March 2016. Total income rose 0.5% to Rs 12852.44 crore in Q4 March 2017 over Q4 March 2016.
Government of India holds 59.24% stake in Bank of Baroda (as on 31 March 2017).
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