Bank of Baroda Shares Rise After Record Quarterly Profit
Bank of Baroda shares increased after the lender reported a record second-quarter net profit of ₹65.32 billion, driven by treasury gains from its National Stock Exchange stake.
Bank of Baroda shares rose on the National Stock Exchange on November 2, 2026, after the state-owned lender reported a record second-quarter net profit of ₹65.32 billion for FY2027. This figure represents a 36 per cent year-on-year increase and beat market estimates by 23 per cent.
The profit surge was driven largely by treasury gains of approximately ₹31 billion resulting from the sale and revaluation of the bank's stake in the National Stock Exchange. Despite these gains, net interest margins slipped 3 basis points to 2.74 per cent. However, the bank reported a 9 per cent rise in net interest income to ₹130.3 billion and an improved gross NPA ratio of 1.78 per cent.
Following the results, management raised its FY27 credit growth guidance to 13–15 per cent and deposit growth guidance to 11–13 per cent. Several brokerages responded with bullish outlooks; JM Financial, HSBC, and Elara Securities upgraded or maintained Buy ratings with target prices ranging from ₹280 to ₹310. Motilal Oswal Financial Services remained more cautious, maintaining a neutral rating with a target price of ₹270.
