The Hindu Business Line : Funds buying props up BoB

Bank of Baroda is coming into the limelight at the bourses with several analysts and fund managers taking a positive view on the stock. At current levels, the stock is being seen as undervalued and analysts are advising clients to increase exposure on the stock.

The banking sector, per se, is gaining favour with brokerages again.

The stock touched a high of Rs 228.10 on Monday before closing at Rs 225.50. It has lost significant steam in the last month of trading and is now seeing resurgence. The stock was trading at Rs 240 in February.

Mutual fund interest in the stock at the current level is said to be high. Brokers said that with a couple of large fund houses buying the stock in the last few trading sessions, expectations are that it would come back under investors' radar.

Veena Venugopal

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