Sell Bank Of Baroda With Stoploss Of Rs 640

Bank Of BarodaStock market analyst Prasad Kushe is of the view that investors can sell Bank Of Baroda (BoB) stock with a target of Rs 615.

According to him, investors can sell the stock between Rs 630-636 with a strict stop loss of Rs 640.

If the stock fell below Rs 610, it may see more weakness.

Today, the stock opened at Rs 628 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 685 and a low of Rs 283 on BSE.

Current EPS & P/E ratio stood at 79.74 and 8.02 respectively.

After selling the stock, the interested investors can enter the stock again at a low price, for medium or long term prospective.

Bank of Baroda (BoB), on April 20, said that it is planning to open 12 international divisions in FY11. In India, BoB decides to have 400 more branches.

Chairman and managing director M. D. Mallya stated that by June 2010, BoB will have a division in Auckland and will open its 10th arm in UK.

During this financial, BoB also planned to swell in the African subcontinent and would open 5 divisions there.

BoB, on April 05, announced that its insurance venture IndiaFirst Life Insurance, which turned operational four months ago would touch break even point (BEP) by 2015.