Bullish on Union Bank, Bank of Baroda: ICICI Direct
March 25th, 2009
Kajal Jain, Chief Manager-Research, ICICI Direct, likes Union Bank and Bank of Baroda from the public sector banking space. He expects the BoB stock to do over Rs 300 and sees a 20% upside for Union Bank. “BoB is available at a very cheap value. It is at 0.8-0.9 times FY10 book value. Also, growth ratios are good. The bank is consistent. It doesn’t grow very aggressively but grows consistently and gives decent profit to shareholders.”