India's Bank of Baroda drops after margin decline sparks growth worries

Bank of Baroda

31/01/2025 07:17

** Shares of Bank of Baroda  BOB.NS  fall 3.4% to 214.9
rupees
    ** State-run lender's Q3 net interest margin (NIM) drops to
2.94% from 3.1% a year before
    ** Stock biggest loser among bank stocks  .NSEBANK , which
is up 0.3%
    ** Motilal Oswal downgrades stock to "neutral" citing
limited scope for earnings growth, flags dependence on bulk
deposits and its high credit-deposit ratio
    ** Around 32 mln shares traded, 3.1x stock's 30-day avg
volume
    ** Analysts rate stock "buy" on avg, but 19 lower PTs;
median drops to 274 rupees from 291 rupees last month - LSEG
    ** Stock down ~11% in January, the biggest loser on bank
stocks index, which is down about 3%

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))