External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Bank of Baroda is among leading PSU banks with a global loan book of ~| 7.3 lakh crore and has better operating metrics among PSBs.</li><li>The bank has a meaningful presence in international operations with its JVs and subsidiaries. Also, ~12% of total business comes from overseas</li><li>We value the bank at ~0.85x FY23E ABV and maintain our target price of Rs 120 per share.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Bank of Baroda is among leading PSU banks with a global loan book of ~| 7.3 lakh crore and has better operating metrics among PSBs.The bank has a meaningful presence in international operations with its JVs and subsidiaries. Also, ~12% of total business comes from overseasWe value the bank at ~0.85x FY23E ABV and maintain our target price of Rs 120 per share.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Bank of Baroda: Operationally Steady; Growth Remains Dampener

Bank Of Baroda

Bank of Baroda: Operationally Steady; Growth Remains Dampener