Notables Observes
- Bank of Baroda is the fifth largest bank in India.
- It provides lending, banking, financing rehabilitation, treasury and investment management services to consumers and to industries. It was the first to venture overseas.
- BOB realigning its operations into four business lines - retail, rural and agriculture, small and medium enterprises and corporate banking -in sync with market needs.
- BOB distribution channel of domestic branches (at 2,853 on 31st Mar, 2008), extension counters and ATMs (at 1,106), and a strong international presence in 25 countries (including India) covering regions like U.S.A., U.K., Africa, Middle East and Asia-Pacific zones has ensured a wide global clientele-base of 33 million.
Share Holding Pattern
- Promoter : 56.79 %
- Public : 46.19 %
Financial Highlights
- Interest earned of Rs. 3293.82 Cr for the quarter ending on 30-JUN-2008 against Rs. 2654.61 Cr for the quarter ending on 30-JUN-2007.
- Interest expended of Rs. 2236.81 Cr for the quarter ending on 30-JUN-2008 against Rs. 1696.06 Cr for the quarter ending on 30-JUN-2007.
- Net Profit / (Loss) of Rs. 370.86 Cr for the quarter ending on 30-JUN-2008 against Rs.330.84 Cr for the quarter ending on 30-JUN-2007.
Technical Overview
- On Daily chart the stock has witnessed "Inverted Head & Shoulder pattern" breakout with huge volumes, indicating a fresh up move for the stock. The stock is recommended to buy at cmp 275.90
Support Levels
- Support 1 : 259
- Support 2 : 248
Stop Loss : 225 on closing basis
Targets
- Target 1 : 294
- Target 2 : 329
Period : 3 to 4 months.
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