After the results of Lok Sabha elections, the performance of shares of public sector banks has slowed down. in the last 6 months NIFTY PSU Bank The index has given only 0.37% i.e. flat return whereas in the last 3 months this index has come down by 6 percent. Now the question is whether there is any PSU stock in the coming days which can remove the tension of the investors? On this, a report has been issued by brokerage Canara Bank Securities Ltd, in which one stock has been selected.
Bullish on which stock?
If we look at past data, the months of September and October are outperformance for government bank stocks. In such a situation, brokerage firm Canara Bank Securities has chosen Bank of Baroda in this space. The current price of the share is Rs 248 per share. The brokerage believes that Bank of Baroda shares can be bought for the next 7-9 weeks. In this, the first target for the coming days has been given at Rs 255 and the second target at Rs 273. On the other hand, in case of a fall, a stoploss of Rs 231 has to be kept. On June 3, the stock had made a 52 week high of Rs 299. This is also its all time high.
fundamentals
After making a high of Rs 299 in June, the stock also made an intraday low of Rs 236 in that month. A low of Rs 231 has been made in the month of August and a low of Rs 231 has been made in the month of September. If we look at the one year return, it is 16 percent. At the same time, 7 percent negative returns have been received in 6 months. The stock has remained down even in a month. The company’s ROE is 16.70 percent, stock P/E is 6.61 and P/B is 0.98.
Disclaimer: This information is for informational purposes only and should not be construed as investment advice. It is recommended to consult a financial advisor before making investment decisions.