India's Bank of Baroda gains on upbeat Q2 results

Bank of Baroda

28/10/2024 06:33

** Shares of Bank of Baroda  BOB.NS  climb 4.9% to 251.1
rupees
    ** Stock top gainer on PSU index  .NIFTYPSU , which is up
2.9%
    ** State-owned lender beat Q2 profit estimates but lowered
loan and deposit growth forecast for FY25
    ** High non-core income offset pressure from net interest
margin (NIM), HSBC analysts say
    ** NIM moderation was lower than peers, analysts say
    ** Lender's slippages were steady vs rise seen among peers,
Ambit Capital analysts say
    ** However, Morgan Stanley analysts flagged volatile loan
growth due a high loan-to-deposit ratio, adding that the lender
continues to lose deposit market share
    ** Stock up 8.5% YTD vs ~13% climb in PSU index 


 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))