June 30, 2017 / 9:22 AM / in 6 months

BUZZ-India's Bank of Baroda surges on Nomura upgrade

** Shares of state-owned Bank of Baroda Ltd surges as much as 4 pct

** Nomura upgraded stock to ‘buy’ from ‘neutral’ on Thursday, keeps TP at 200 rupees

** Cites early stress recognition and “high” non-performing asset coverage of 58 pct for upgrade

** Nomura says the higher NPA coverage should lead to lower profit hit in FY18

** Expects Bank of Baroda to post better pre-provision operating profit, in part to improving net interest margins

** Up to Thursday’s close, stock has risen 1.4 pct this year vs Nifty PSU Bank index’s growth of 9.98 pct

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below