Should I buy Bank of Baroda stock ?

Bank of Baroda is India’s 2nd largest PSU bank after SBI. Recently maha merger took place where Vijaya Bank and Dena Bank merged into Bank of Baroda.

It is also the 3rd largest bank after SBI and ICIC BANK.

Recently Bank of Baroda as a bank is fighting with NPA issues and it has posted lose in recent quarter.

It’s 52 Wk low was 85.40 and 52 Wk high was 143.60. This bank is not considered so good in terms of eroding investor’s confidence as well as their wealth if you compare with previous years where it has given negative returns to investors.

Now coming to if you should buy Bank of Baroda which is almost at it’s 52 WK’s low ?

ICICI Direct’s/ICICI Securities research   report on Bank of Baroda-----

On 27th Jan 2020 ICICI Direct published a report where it said it’s bullish on Bank Of Baroda with a target of 110, again it was last updated on Moneycontrol  website on 13th Feb 2020 the same target of 110 and remained bullish on the stock.



When Jan 27th the report was published from ICICI Direct/ICICI Securities Bank of Baroda was 92.35 and on 14th Feb it touched 86.45. Is it a deliberate attempt to make retail investors buy at high level so that some big investors can short sell and move out of the stock ? Is it an operator game ?

ICICI direct gave a target of 200 on June 29 2017 when Bank Of Baroda was trading at 155, from there on the stock is falling and showed a 52-WK low of 85.

On Nov 12 2019 ICICI Direct/ICICI Securities gave a target of 130 for Bank of Baroda when it was 94 on 13th Nov 2019.

What conclusion you can draw from such trade calls given by reputed research firms like ICICI Direct/ICICI Securities? Are they work for operators who publish such reports just to trap retail investors and benefit the stock operators?

 

Contact : bardevolved@gmail.com for suggestions

By : Admin| Category : Business and Economy| Date : February 15,2020

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