Bank of Baroda stock upgraded

Morgan Stanley has upgraded Bank of Baroda to ‘equalweight’ from ‘underweight’ 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 Baroda’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.