Bank of Baroda rises 5% on Q2, then eases, support 223

Bank of Baroda rose as much as 5.15% to Rs 250.89 after Q2 profit jumped 35.8%, with support at Rs 223 and resistance at Rs 252. Bank of Baroda [

] rose as much as 5.15% to Rs 250.89 on 2 November after reporting a record Q2 FY27 profit, then pared gains to trade near Rs 245.16. The stock reached its two-month high before easing. Standalone profit rose 35.8% to Rs 6,531.5 crore from Rs 4,809.4 crore. Net interest income grew 9% to Rs 13,026.3 crore, and operating profit rose 50.9% to Rs 11,430.1 crore. Other income jumped 95.8% to Rs 6,880.7 crore, and provisions rose 93.3% to Rs 2,381.8 crore. Gross NPA eased to 1.78% from 1.99% in Q1, and net NPA to 0.37% from 0.50%. However, one-time gains from selling part of its NSE stake, about Rs 1,340 crore, and treasury income of Rs 4,093 crore lifted other income. The trend was bearish after the peak near Rs 287 and is now showing signs of reversal from the lower level. Support is Rs 223. Resistance is Rs 252. A close above Rs 252 would confirm the reversal. A close below Rs 223 would cancel it. Volume on the breakout is the key signal. Disclosure: I do not hold any position in this stock. This is not a recommendation to buy or sell. Investments in securities markets are subject to market risks. Read all related documents carefully before investing.