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Business Standard
an hour ago
- Business Standard
Bank of Baroda stock fluctuates after mixed Q1 show; hold or exit?
Shares of Bank of Baroda recouped losses after it fell over 2 per cent on Monday morning deals as analysts termed the lender's first quarter performance as a mixed bag, with a modest growth in net profit. The public-sector lender's stock fell as much as 2.33 per cent during the day to ₹237.7 per share, the biggest intraday rise since June 19 this year. However, the stock pared losses to trade 0.3 per cent higher at ₹244.3 apiece, compared to a 0.02 per cent decline in Nifty 50 as of 11:00 AM. Shares of the company have been in a range-bound pattern since June. The counter has risen 1.5 per cent this year, compared to a 5 per cent advance in the benchmark Nifty 50. Bank of Baroda has a total market capitalisation of ₹1.26 trillion. Bank of Baroda Q1 results The lender's net profit grew 1.9 per cent year-on-year (Y-o-Y) to ₹4,541 crore in the first quarter of 2025-26 (Q1FY26), aided by treasury income, amid pressure on net interest margin. Net interest income (NII) -- the difference between interest earned and interest expended -- fell 1.4 per cent Y-o-Y to ₹11,435 crore. Net interest margin (NIM) from domestic operations fell to 2.91 per cent in Q1FY26, down from the 3.18 per cent in Q1FY25. BoB reported 12.6 per cent Y-o-Y credit growth in overall advances to ₹12.07 trillion. The domestic book grew by 12.4 per cent. While retail advances increased 17.5 per cent, corporate loans saw 4.2 per cent Y-o-Y growth in Q1FY26. Home loans grew by 16.5 per cent. Bank of Baroda asset quality The asset quality profile improved with gross non-performing assets (NPAs) declining to 2.28 per cent from 2.88 per cent a year ago. The net NPAs fell to 0.60 per cent from 0.69 a year ago. The provision coverage ratio, including those for write-offs, stood at 93.18 per cent in June 2025. Lender's capital adequacy ratio stood at 17.19 per cent with the common equity tier I (CET-1) of 17.61 per cent. Analysts on Bank of Baroda Q1 The lender reported a mixed performance in Q1FY26, marked by slower loan growth, higher slippages, and a relatively resilient NIM, Nuvama Institutional Equities said. While BoB's international loan quality remains more volatile than peers, overseas loan growth continues to outpace domestic, Nuvama said. NIM resilience was aided by slower marginal cost of funds-based lending rate (MCLR) cuts and repricing of bulk deposits, despite having a similar external benchmark lending rate (EBLR) mix of 48 per cent as peers. However, Nuvama anticipates a sharper NIM decline for BoB in the coming quarters. Nuvama raised its target price to ₹280 (from ₹260), and maintained its rating at 'Buy'. The near-term pressure on NIMs is expected to continue before a potential recovery in the second half of the financial year, Axis Securities said. A sharper-than-expected contraction in NIMs could pose risks to the bank's ability to deliver a 1 per cent return on assets (RoA), it said The bank is actively working to strengthen its fee income profile, while operating expense growth is expected to remain controlled and slightly below business growth, Axis said. "With no major asset quality concerns on the horizon, credit costs are likely to stay contained, it added. ALSO READ: Analysts at Antique Stock Broking said that the bank delivered a mixed performance, with RoA supported by higher non-core income and a relatively smaller contraction in NIM compared to peers. However, elevated credit costs and higher slippages were notable concerns, it said. Bank of Baroda has consistently maintained RoA above 1 per cent for the past 12 quarters, and this trend is expected to continue, Antique said. The stock appears reasonably priced, with the brokerage maintaining its 'Buy' rating.
Business Standard
an hour ago
- Business Standard
Pfizer Ltd Spurts 6.26%
Pfizer Ltd has lost 0.1% over last one month compared to 3.16% gain in BSE Healthcare index and 3.28% drop in the SENSEX Pfizer Ltd rose 6.26% today to trade at Rs 5689.95. The BSE Healthcare index is up 0.15% to quote at 45404.45. The index is up 3.16 % over last one month. Among the other constituents of the index, Sanofi Consumer Healthcare India Ltd increased 4.43% and Vimta Labs Ltd added 2.26% on the day. The BSE Healthcare index went up 13.01 % over last one year compared to the 0.04% fall in benchmark SENSEX. Pfizer Ltd has lost 0.1% over last one month compared to 3.16% gain in BSE Healthcare index and 3.28% drop in the SENSEX. On the BSE, 1 shares were traded in the counter so far compared with average daily volumes of 2724 shares in the past one month. The stock hit a record high of Rs 6452.85 on 02 Sep 2024. The stock hit a 52-week low of Rs 3742.9 on 07 Apr 2025.
Mint
an hour ago
- Mint
Shares to buy for the short term: Jigar Patel of Anand Rathi recommends THESE 2 stocks
Shares to buy for the short term: The Indian stock market has been in corrective mode for the last few weeks due to the delayed India-US trade deal, the foreign capital outlook, and uninspiring Q1 earnings. The Sensex and the Nifty 50 have been on losing streak for the last four consecutive weeks, on a weekly basis. So far this month, both indices are down nearly 3 per cent each. Last Friday, the Nifty 50 fell almost 1 per cent to end at 24,837, falling below its critical support of 25,000. Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers, underscored that the Nifty's reversal from 25,250 has brought it precariously close to a breakdown below the previous swing low at 24,850, a development considered negative for market sentiment. Patel pointed out that the index is now hovering around a crucial rising channel support, and a close below 24,800 could confirm this breakdown, placing the next support at 24,450 in the spotlight. A breach of the 24,450 may usher in a more pronounced corrective phase. On the upside, recapturing the 25,000 level will be essential for the bulls to regain momentum, said Patel. The expert further added that from a positioning perspective, the current long-short ratio in index futures has dropped below 15 per cent, signalling a predominance of short bets. "While this high concentration of shorts increases nervousness, it also raises the odds for a sharp short-covering rally if a positive trigger emerges. Until clearer signals appear, a cautious outlook on the broader time frame is recommended," said Patel. Jigar Patel recommends buying shares of TCS and Sun Pharma for the next two to three weeks. TCS has been on a downward trajectory since mid-May 2025, consistently forming lower highs and lower lows. This bearish structure has resulted in a correction of nearly ₹ 440 — a decline of approximately 12.32 per cent. However, the stock now stands at a technically significant zone, where both time and price confluence suggest a potential trend reversal. Historically, key pivot highs and lows in TCS have often occurred within a 25–38 day cycle. Interestingly, this window aligns with both the Lucas number (29) and Fibonacci number (34), adding credence to the time-based support. Adding to the technical outlook, a bullish Bat Harmonic Pattern is taking shape around the ₹ 3,080-3,100 mark, coinciding with the S1 quarterly floor pivot, reinforcing the likelihood of a strong base. Moreover, the MACD histogram is showing signs of exhaustion in negative momentum, with shrinking red bars indicating a possible shift in trend. "In light of these technical factors, traders may consider initiating long positions in the ₹ 3,140–3,100 zone in a staggered manner, targeting an upside move toward ₹ 3,430, with a protective stop loss at ₹ 2,965 on a daily closing basis,' said Patel. TCS technical chart Sun Pharma has formed a robust base in the ₹ 1,650–1,680 range, coinciding with the S3 Camarilla monthly pivot, signalling a key support zone. This area also aligns with a rising trendline and the lower median line of a pitchfork, creating a compelling technical confluence that could attract renewed buying interest. "The multiple support factors at play increase the probability of a bullish reversal from current levels. A decisive move above this consolidation zone could open the door for a fresh leg higher,' said Patel. Patel suggests an entry zone of ₹ 1,705–1,695 for the stock, with a target price of ₹ 1,800, and a stop loss of ₹ 1,650 on a daily closing basis. Sun Pharma technical chart Read all market-related news here
