Antique Stock Broking has maintained a Buy rating on Bank of Baroda, assigning a target price of ₹290, indicating a potential upside from the current levels.
The brokerage noted that net interest income (NII) for Q1FY26 was in line with expectations, with overall profitability supported by higher treasury gains. However, the bank’s loan book saw a sequential decline, driven by a contraction in the corporate lending portfolio.
Slippages rose modestly on a sequential basis, putting slight pressure on asset quality. Still, Antique highlighted the bank’s consistent performance in maintaining return on assets (RoA) above 1% for 12 straight quarters.
Valuations remain attractive, with the stock trading at 0.8x FY26 and 0.7x FY27 estimated book value. Reflecting improved outlook, the brokerage has also revised its earnings estimates upward by 3% for FY26 and 6% for FY27.
Disclaimer: This article is based on Antique Stock Broking’s research note and does not constitute investment advice. Please consult a certified financial advisor before making any investment decisions.
