Public sector lender Bank of Baroda surprised the Street with a slew of positives in its September quarter earnings performance.
Also, it's loan growth increased 20.6% year-on-year in Q2FY23.
According to Yes Securities Ltd, the bank's management stated that BoB would grow at the industry level, which itself translates to an enhancement of growth guidance.
Consequently, the stock has seen a re-rating. "
Similarly, analysts at Motilal Oswal Financial Services have raised the bank's FY23 earnings estimates by 10%, factoring in higher net interest income and lower credit cost. "
According to the bank's management, the upward repricing of loans will continue to outpace deposit cost for the bank for some time.

Source - Mint
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