Bank of Baroda stock upgraded

Morgan Stanley has upgraded Bank of Baroda to 8216;equalweight8217; from 8216;underweight8217; saying the the stock is trading at one year forward book value and is relatively better positioned from a balance sheet perspective than other state banks.

The research house said in a note Bank of Baroda8217;s ability to withstand a more intense asset quality cycle is relatively better than other state-run banks.

Bank of Baroda was started in 1908 from a small building in Baroda.

At 9:53 am shares of Bank of Baroda were up 2.52 per cent at 713.40 rupees.