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Deepa Salunkhe made post

Why has the stock of Bank of Baroda rallied on 18 December? Is it part of rally in all banking stocks?

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Juvina Maggie answered.
8 months ago

You are right there is a rally in banking stocks overall with most banks doing quite well. But Bank of Baroda also has an important news flow favouring the stock. The boost came after rating agency, Fitch, reaffirmed the rating of Bank of Baroda at “AAA” for the IDR issue. In addition, Fitch also removed BOB from the watch list meaning that there are no immediate risks for the banks as they say. This is positive for the stock and that is what is keeping the stock higher.