Bank of Baroda Limited share price

Bank of Baroda Limited provides various banking products and services to individuals, government departments, and corporate customers in India and internationally. It operates through Treasury, Wholesale Banking, Retail Banking, and Other Banking Operations segments. The company offers savings, salary, and current accounts; and fixed and recurring deposits. It also provides loans, including home, vehicle, digital, personal, education, gold, mortgage, and other loans, as well as Baroda Yoddha loans for defense personnel and fintech credit; loans and advances for corporate, agriculture, and micro, small, and medium enterprises; export finance, foreign currency credits, foreign currency non-re…Read more

Website NSE हिंदी में BSE

Financial ServicesBanks - RegionalNifty Next 50 Nifty 100 Nifty 500 Nifty BankNSE: BANKBARODAISIN INE028A01039

16 Oct 2026, 3:28 PM IST₹230.40▲ 2.40 (1.05%)

Market Cap₹ 1,19,148 Cr.
Current Price₹ 230.40
High / Low₹ 326 / 224
Stock P/E6.6
Book Value₹ 326
Dividend Yield3.73 %
Price / Book0.71
ROE12.70 %
Face Value₹ 2.0

More figures (8)

EPS (TTM)₹ 35.13
Net margin26.5 %
Sales growth (5Y)12.6 %
Profit growth (5Y)68.0 %
Promoter holding66.5 %
EV / EBITDA—
Beta0.44
All-time high₹ 326

Price chart

Price on NSE 50 DMA 200 DMA Volume

Returns	1M	3M	6M	YTD	1Y	3Y CAGR	5Y CAGR
BANKBARODA	-1.95%	-7.21%	-17.53%	-22.14%	-13.43%	+3.83%	+19.91%
Nifty 50	-0.31%	-3.85%	-4.34%	-11.42%	-9.53%	+5.46%	+4.76%

Price returns only (dividends not included). Prices from NSE via Yahoo Finance; may be delayed.

Quick take

Bank of Baroda Limited is in the Banks - Regional industry (Financial Services), with a market value of ₹1,19,148 crore.
It trades at 6.6 times its last 12 months' earnings and 0.7 times book value.
Revenue grew 12.6% a year over the last 5 years, profit 68.0% a year.
Return on equity was 12.7% in the latest year.
The share price is 29.2% below its 52-week high and down 13.4% over one year.
Promoters and insiders hold about 66.5%; institutions about 20.4%.

Pros

Profit has grown 68.0% a year over the last 5 years.
Healthy return on equity of 15.0% on average over the last 3 years.
Promoters hold a large stake of 63.97%.

Cons

Latest quarter (Jun 2026): profit fell 53% from a year ago.

Pros and cons are generated automatically from the reported figures. They are observations, not a recommendation to buy or sell.

AI analysis

Plenitude AI reads the figures on this page and explains them in plain language. It does not say whether to buy or sell.

About Bank of Baroda Limited

Employees: 76,693
Head office: Vadodara
NSE industry: Financial Services

Financial ServicesFinancial ServicesBanks - Regional

Part ofNifty Next 50 Nifty 100 Nifty 500 Nifty Bank

S.No.	Company	CMP ₹	P/E	Mar Cap ₹ Cr	Div Yld %	NP Qtr ₹ Cr	Qtr Profit Var %	Sales Qtr ₹ Cr	Qtr Sales Var %	ROCE %	ROE %	P/B	OPM %	Debt / Eq	Prom. Hold. %	Sales ₹ Cr	Sales Var 3Yrs %
1.	Bank of Baroda	230.40	6.6	1,19,148	3.73	1,573	-53.08	35,115	6.84	—	12.7	0.71	—	0.94	66.46	1,34,298	12.6
2.	HDFC Bank	728.85	15.9	11,23,776	1.79	20,383	19.26	90,575	3.67	—	8.9	1.85	—	0.81	0.18	3,48,615	16.9
3.	ICICI Bank	1,397.00	18.1	10,02,968	0.86	15,440	13.88	38,366	7.73	—	16.0	2.63	—	0.57	3.54	2,23,407	18.1
4.	State Bank of India	962.60	10.3	8,88,554	1.81	24,579	13.65	1,36,240	8.36	—	15.4	1.43	—	1.22	57.23	5,14,933	12.2
5.	Kotak Mahindra Bank	447.40	21.9	4,45,068	0.15	5,487	23.89	18,355	6.41	—	11.4	2.46	—	0.53	28.41	69,781	13.5
6.	Axis Bank	1,290.00	14.5	4,01,677	0.08	7,632	2.10	22,998	5.32	—	13.1	1.80	—	1.30	3.33	88,067	12.2
7.	Punjab National Bank	116.30	6.1	1,33,663	2.61	5,815	16.54	15,370	-1.85	—	13.0	0.85	—	0.58	70.08	62,620	10.0
8.	Union Bank of India	171.68	6.3	1,31,054	2.90	5,642	12.58	15,455	-2.48	—	15.7	0.94	—	0.55	74.76	58,788	7.6
9.	Indian Bank	854.10	8.7	1,15,044	2.19	3,357	12.58	10,341	10.86	—	15.4	1.32	—	0.46	76.55	37,794	10.4
10.	Canara Bank	118.29	5.3	1,07,297	3.59	5,181	2.18	16,958	-9.31	—	17.7	0.84	—	1.02	64.32	64,175	5.0
	Median: 34 Co.	588.13	10.2	59,968	0.81	5,728	13.11	20,676	5.86	—	12.4	1.22	—	0.70	60.78	78,924	12.2

Companies in the same industry; the median covers every company in it that we hold figures for. Tap a heading to sort. Sorting and comparing are ways to explore data, not recommendations.

Quarterly Results

Consolidated figures in ₹ crore /

₹ Cr	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	28,003	29,263	30,042	31,072	31,143	31,887	32,570	32,345	32,866	33,318	33,600	34,514	35,115
YOY Revenue Growth %		30.97%	21.46%	14.75%	11.21%	8.97%	8.42%	4.10%	5.53%	4.49%	3.16%	6.70%	6.84%
Interest on advances	20,417	21,454	22,386	23,390	23,363	23,813	24,574	24,357	24,470	24,353	24,930	25,643	26,400
Income on investments	6,796	6,985	7,037	7,024	7,228	7,114	7,656	7,287	7,223	7,284	7,191	7,075	7,552
Interest	16,060	17,528	18,002	18,309	18,582	19,266	20,143	20,273	20,307	20,191	20,586	20,776	21,301
	11,040	12,216	10,556	12,269	10,879	12,755	10,654	12,712	12,928	11,548	12,390	13,155	12,130
Employee cost	4,030	3,973	4,100	4,864	4,304	4,352	4,521	4,733	4,672	4,412	4,489	3,636	4,611
Other operating expenses	3,732	4,458	4,553	4,628	4,133	4,631	4,637	5,410	4,840	5,338	5,272	6,058	4,820
Provisions & contingencies	3,278	3,785	1,903	2,777	2,442	3,773	1,497	2,568	3,416	1,798	2,628	3,461	2,698
Financing Profit	902	-480	1,484	494	1,682	-134	1,772	-640	-368	1,579	624	582	1,684
Financing Margin %	3%	-2%	5%	2%	5%	0%	5%	-2%	-1%	5%	2%	2%	5%
Other Income	5,316	6,503	5,042	6,538	4,658	7,568	5,163	7,551	5,538	5,116	6,399	5,474	6,202
Profit before tax	6,217	6,023	6,526	7,033	6,340	7,434	6,935	6,911	5,170	6,695	7,024	6,057	2,206
Tax %	31%	28%	27%	29%	28%	27%	26%	23%	35%	24%	23%	7%	29%
	4,302	4,343	4,748	5,016	4,580	5,455	5,117	5,307	3,352	5,070	5,407	5,648	1,573
Profit from associates	165	83	66	144	184	-50	133	140	165	110	94		267
Minority share	16	32	26	28	36	50	36	27	48	47	58		56
Profit to shareholders	4,452	4,394	4,789	5,132	4,728	5,355	5,214	5,420	3,469	5,134	5,443	5,648	1,783
YOY Profit Growth %		32.73%	13.97%	-1.84%	6.47%	25.60%	7.76%	5.80%	-26.82%	-7.05%	5.67%	6.42%	-53.08%
EPS in Rs	8.61	8.50	9.26	9.92	9.14	10.36	10.08	10.48	6.71	9.93	10.53	11.22	3.45
Gross NPA %						0.03%			0.02%	0.02%
Net NPA %						0.01%			0.01%	0.01%
Raw filing

₹ Cr	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	26,556	27,862	28,605	29,583	29,629	30,263	30,908	30,642	31,091	31,511	31,750	32,642	33,211
YOY Revenue Growth %		31.09%	21.52%	14.41%	11.57%	8.62%	8.05%	3.58%	4.94%	4.12%	2.72%	6.53%	6.82%
Interest on advances	19,813	20,827	21,697	22,760	22,660	23,058	23,811	23,522	23,636	23,505	24,056	24,745	25,524
Income on investments	6,028	6,275	6,255	6,307	6,438	6,536	6,553	6,421	6,321	6,376	6,262	6,109	6,556
Interest	15,559	17,031	17,504	17,791	18,029	18,641	19,491	19,622	19,657	19,557	19,949	20,148	20,686
	8,441	9,143	7,563	9,180	7,937	9,662	8,604	9,649	9,840	9,125	8,823	10,542	8,511
Employee cost	3,754	3,706	3,809	4,547	4,014	4,040	4,207	4,347	4,308	4,061	4,111	3,262	4,247
Other operating expenses	2,740	3,276	3,088	3,331	2,912	3,287	3,315	3,750	3,565	3,832	3,913	4,129	3,621
Provisions & contingencies	1,947	2,161	666	1,302	1,011	2,336	1,082	1,552	1,967	1,232	799	3,150	643
Financing Profit	2,555	1,688	3,538	2,613	3,663	1,960	2,813	1,371	1,595	2,829	2,978	1,952	4,014
Financing Margin %	10%	6%	12%	9%	12%	6%	9%	4%	5%	9%	9%	6%	12%
Other Income	3,322	4,171	2,810	4,191	2,487	5,181	3,769	5,210	4,675	3,515	3,600	3,967	3,470
Profit before tax	5,878	5,859	6,349	6,804	6,151	7,141	6,582	6,581	6,270	6,343	6,578	5,919	1,804
Tax %	31%	27%	28%	28%	28%	27%	27%	23%	28%	24%	23%	5%	29%
	4,070	4,253	4,579	4,886	4,458	5,238	4,837	5,048	4,541	4,809	5,055	5,616	1,278
Profit to shareholders	4,070	4,253	4,579	4,886	4,458	5,238	4,837	5,048	4,541	4,809	5,055	5,616	1,278
YOY Profit Growth %		28.35%	18.86%	2.33%	9.53%	23.16%	5.63%	3.30%	1.87%	-8.18%	4.49%	11.25%	-71.85%
EPS in Rs	7.87	8.22	8.86	9.45	8.62	10.13	9.35	9.76	8.78	9.30	9.77	10.86	2.47
Gross NPA %	0.04%	0.03%	0.03%	0.03%	0.03%	0.03%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%
Net NPA %	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.00%	0.01%
Raw filing

Source: the company's results filed with NSE, as reported. Tap a row marked + for its breakdown. Latest quarter on the right.

Profit & Loss

Consolidated figures in ₹ crore /

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	78,895	74,314	73,385	94,139	1,18,379	1,27,945	1,34,298	1,36,546
YOY Revenue Growth %		-5.81%	-1.25%	28.28%	25.75%	8.08%	4.97%
Interest on advances	55,491	51,427	50,751	65,777	87,648	96,107	99,396
Income on investments	19,234	19,275	19,536	24,801	27,842	29,284	28,773
Interest	50,040	43,201	38,815	49,942	69,899	78,265	81,860	82,855
	42,280	39,427	38,956	40,271	46,080	47,000	50,021	49,223
Employee cost	9,279	11,993	12,644	14,343	16,967	17,910	17,209	17,148
Other operating expenses	11,297	11,124	12,195	16,302	17,370	18,810	21,509	21,489
Provisions & contingencies	21,704	16,309	14,118	9,627	11,743	10,280	11,303	10,586
Financing Profit	-13,425	-8,314	-4,386	3,925	2,400	2,680	2,417	4,469
Financing Margin %	-17%	-11%	-6%	4%	2%	2%	2%	3%
Other Income	12,191	14,687	14,395	16,639	23,399	24,939	22,527	23,192
Profit before tax	-1,234	6,373	10,008	20,565	25,799	27,619	24,945	21,981
Tax %	176%	77%	23%	29%	29%	26%	22%	19%
	942	1,454	7,700	14,688	18,410	20,459	19,477	17,698
Profit from associates	39	166	233	317	459	406		471
Minority share	53	73	83	100	101	149		161
Profit to shareholders	928	1,548	7,850	14,905	18,767	20,716	19,477	18,008
YOY Profit Growth %		54.31%	429.63%	90.75%	25.34%	11.13%	-4.80%
EPS in Rs	1.74	3.32	15.18	28.82	36.29	40.06	38.38	35.13
Dividend Payout %				10%	15%	19%	22%

Compounded Sales Growth

5 Years:: 13%
3 Years:: 13%
TTM:: 5%

Compounded Profit Growth

5 Years:: 68%
3 Years:: 10%
TTM:: -8%

Stock Price CAGR

5 Years:: 20%
3 Years:: 4%
1 Year:: -13%

Return on Equity

4 Years:: 15%
Last Year:: 13%

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	75,984	70,495	69,881	89,589	1,12,606	1,21,442	1,26,994	1,29,113
YOY Revenue Growth %		-7.22%	-0.87%	28.20%	25.69%	7.85%	4.57%
Interest on advances	54,116	50,052	49,279	64,073	85,098	93,051	95,942
Income on investments	18,097	17,077	17,617	22,156	24,866	25,949	25,068
Interest	48,532	41,686	37,259	48,233	67,884	75,783	79,311	80,340
	39,571	35,617	34,719	31,655	34,327	35,852	38,329	37,001
Employee cost	8,770	11,446	11,979	13,353	15,816	16,608	15,742	15,681
Other operating expenses	9,308	9,098	9,738	11,166	12,436	13,264	15,439	15,495
Provisions & contingencies	21,494	15,074	13,002	7,137	6,076	5,980	7,149	5,825
Financing Profit	-12,119	-6,808	-2,098	9,701	10,394	9,807	9,353	11,772
Financing Margin %	-16%	-10%	-3%	11%	9%	8%	7%	9%
Other Income	10,317	12,364	11,484	10,026	14,495	16,647	15,757	14,553
Profit before tax	-1,802	5,556	9,386	19,727	24,890	26,454	25,110	20,645
Tax %	130%	85%	23%	28%	29%	26%	20%	19%
	546	829	7,272	14,110	17,789	19,581	20,021	16,758
Profit to shareholders	546	829	7,272	14,110	17,789	19,581	20,021	16,758
YOY Profit Growth %		51.77%	777.29%	94.02%	26.08%	10.08%	2.25%
EPS in Rs	1.02	1.78	14.06	27.28	34.40	37.86	38.72	32.40
Gross NPA %	0.09%	0.09%	0.07%	0.04%	0.03%	0.02%	0.02%
Net NPA %	0.03%	0.03%	0.02%	0.01%	0.01%	0.01%	0.00%
Dividend Payout %				10%	16%	20%	22%

Compounded Sales Growth

5 Years:: 12%
3 Years:: 12%
TTM:: 5%

Compounded Profit Growth

5 Years:: 89%
3 Years:: 12%
TTM:: -15%

Stock Price CAGR

5 Years:: 20%
3 Years:: 4%
1 Year:: -13%

Return on Equity

4 Years:: 15%
Last Year:: 13%

Financial years ending March; TTM = the last four quarters. Source: the company's results filed with NSE, as reported. Tap a row marked + for its breakdown. Dividend payout = dividends paid in the year ÷ net profit.

Balance Sheet

Consolidated figures in ₹ crore, as at 31 March

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	1,036	1,036	1,036	1,036
Reserves	1,04,019	1,18,677	1,45,467	1,64,833
Borrowings	1,05,481	93,089	1,05,813	1,55,297
	13,15,343	14,41,978	16,09,459	17,80,337
Trade payables	5,672	7,020	8,806	5,964
Minority interest	995	1,018	1,248	1,498
Total Liabilities	15,25,879	16,54,779	18,61,774	21,01,502
	8,957	8,148	12,634	12,197
Gross block	24,533	25,180	30,156	31,073
Accumulated depreciation	15,576	17,032	17,522	18,876
Goodwill & intangibles	911	911	911	911
CWIP	81	113	155	149
Investments	3,97,487	4,07,136	4,28,327	4,37,030
	11,19,354	12,39,382	14,20,658	16,52,126
Cash & equivalents	1,02,373	1,00,290	1,32,478	1,60,823
Total Assets	15,25,879	16,54,779	18,61,774	21,01,502

Source: Yahoo Finance (compiled from the annual reports). Tap a row marked + for its breakdown.

Cash Flows

Consolidated figures in ₹ crore, financial years ending March

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-21,354	-6,274	34,892	33,426
Profit for the year	14,905	18,767	20,716	19,846
Working capital changes	-50,097	-39,468	1,811	-3,759
Direct taxes paid	-5,618	-8,303	-9,628	-4,846
	-1,096	-1,285	-6,494	-3,275
Fixed assets purchased	-983	-1,355	-6,332	-1,816
Fixed assets sold	197	477	420	301
	-5,405	5,476	3,790	-1,806
Proceeds from borrowings		10,051	10,181	5,815
Repayment of borrowings	-2,324
Interest paid	-1,852	-1,754	-2,691	-3,556
Dividends paid	-1,466	-2,844	-3,930	-4,318
Net Cash Flow	-27,855	-2,084	32,188	28,345
Free Cash Flow	-22,337	-7,629	28,559	31,610

Free cash flow = cash from operations − capital expenditure. Source: Yahoo Finance.

Ratios

Ratio	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
ROE	—	14.2%	16.7%	15.6%	12.7%
Net margin	—	26.7%	27.6%	27.8%	26.5%

Computed from the reported statements: ROE on average equity; ROCE = EBIT / (total assets − current liabilities). Debtor days = receivables ÷ sales × 365; inventory and payable days use cost of goods sold; cash conversion cycle = debtor + inventory − payable days; working capital days = (current assets − current liabilities) ÷ sales × 365.

Shareholding Pattern

Numbers in percentages · as filed with NSE each quarter

Promoters 63.97%
FIIs 10.30%
DIIs 17.92%
Public 7.82%

%	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Promoters	63.97%	63.97%	63.97%	63.97%	63.97%	63.97%	63.97%	63.97%	63.97%	63.97%	63.97%	63.97%
	12.27%	12.40%	11.45%	9.87%	8.91%	8.98%	8.08%	8.71%	9.84%	9.69%	10.14%	10.30%
Foreign portfolio investors (Cat. I)	11.63%	11.74%	11.00%	9.36%	8.40%	8.50%	7.72%	8.27%	9.24%	9.16%	9.54%	9.68%
Foreign portfolio investors (Cat. II)	0.64%	0.66%	0.45%	0.51%	0.50%	0.48%	0.36%	0.44%	0.60%	0.53%	0.60%	0.61%
	16.00%	16.30%	16.04%	16.60%	18.12%	18.23%	19.06%	19.01%	18.81%	19.01%	18.42%	17.92%
Mutual funds	8.61%	8.59%	8.50%	8.81%	9.58%	9.17%	9.33%	10.04%	9.97%	10.46%	9.78%	9.49%
Insurance companies	5.56%	6.13%	5.84%	6.50%	7.09%	7.52%	8.07%	7.41%	6.74%	6.20%	5.93%	6.00%
Banks	0.08%	0.02%	0.02%	0.02%	0.04%	0.01%	0.01%			0.03%	0.05%	0.06%
Provident & pension funds	1.10%	1.07%	1.10%	0.64%	0.69%	0.78%	0.92%	1.12%	1.68%	1.91%	2.32%	2.07%
Alternative investment funds	0.40%	0.23%	0.31%	0.38%	0.46%	0.49%	0.46%	0.36%	0.33%	0.32%	0.24%	0.21%
	7.75%	7.33%	8.55%	9.55%	9.00%	8.83%	8.89%	8.31%	7.37%	7.33%	7.46%	7.82%
Retail (up to ₹2 lakh)	6.08%	5.83%	6.68%	7.50%	7.04%	6.92%	6.96%	6.44%	5.78%	5.66%	5.67%	6.04%
HNIs (above ₹2 lakh)	0.47%	0.46%	0.54%	0.54%	0.50%	0.56%	0.46%	0.43%	0.35%	0.34%	0.40%	0.41%
NRIs	0.36%	0.35%	0.41%	0.45%	0.46%	0.46%	0.45%	0.42%	0.41%	0.40%	0.40%	0.41%
Bodies corporate	0.58%	0.42%	0.62%	0.77%	0.74%	0.62%	0.63%	0.63%	0.49%	0.57%	0.63%	0.57%
IEPF	0.06%	0.06%	0.06%	0.06%	0.06%	0.06%	0.17%	0.17%	0.17%	0.17%	0.17%	0.17%
No. of Shareholders	12,89,443	13,29,618	14,11,266	17,11,548	16,93,917	16,89,797	16,31,562	15,65,743	14,77,398	14,59,934	14,60,575	14,80,357

Source: shareholding patterns filed by the company with NSE. Public = non-institutional holders. Tap a row marked + for its breakdown.

Mutual funds & institutions holding Bank of Baroda

Holder (above 1%)	Stake
Lici Ulip Growth FundInsurance	5.06%
Nps Trust A/C Lic Pension Fund SchemePension fund	2.07%
HDFC LARGE AND MID CAP FUNDMutual fund · see the fund house	1.86%
SBI Arbitrage FundMutual fund	1.86%
Kotak Debt HybridMutual fund	1.85%

As named in the shareholding pattern for Sep 2026 filed with NSE; mutual funds together hold 9.49% of the company. Shareholders below 1% are not named in the filing.

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Filings made by the company with NSE; documents open on NSE's website.

Key dates

Results announced: 30 Oct 2026
Ex-dividend date: 5 Jun 2026
Latest quarter: 30 Jun 2026
Financial year end: 31 Mar 2026

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Questions about Bank of Baroda Limited

What is the share price of Bank of Baroda Limited today?

Bank of Baroda Limited (BANKBARODA) last traded at ₹230.40 on NSE (16 Oct 2026, 3:28 PM IST). Prices may be delayed.

What is the market cap of Bank of Baroda Limited?

About ₹1,19,148 crore at the latest price.

What is the P/E ratio of Bank of Baroda Limited?

About 6.6 times its earnings over the last 12 months.

Is Bank of Baroda Limited a good investment?

We do not give views on individual shares. Whether any share suits you depends on your goals, time horizon and risk appetite; for long-term goals, a diversified mutual fund is often a simpler way to own shares. Investments in securities markets are subject to market risks.

How can I buy Bank of Baroda Limited shares?

You need a trading and demat account with a SEBI-registered stock broker. We can help you open one through Parshvanath Investments, an Authorised Person of Master Capital Services Ltd (SEBI Reg. INZ000210539). We provide execution and account service only, not tips or research.

Important. Prices from NSE via Yahoo Finance. Quarterly and annual results, shareholding and documents are taken from the filings the company made with NSE; balance sheet, cash flow and valuation figures are compiled by Yahoo Finance; ratios are computed by us from them. Figures may be delayed or revised. This page is for information only: it is not research, a recommendation or an offer to buy or sell any security. Investments in securities markets are subject to market risks; read all related documents carefully before investing. Plenitude Connect Private Limited is an AMFI-registered Mutual Fund Distributor (ARN-130934); share broking is offered through Parshvanath Investments, Authorised Person of Master Capital Services Ltd (SEBI Reg. INZ000210539).

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