SBI vs Bank of Baroda: Which PSU bank stock should you pick for long term?
Bank of Baroda (BoB), which PSU bank stock has better long-term investment opportunities. Both SBI and BoB have given double-digit returns this year so far but SBI has been the better performer. While SBI has risen almost 16 percent in 2024 YTD, BoB has advanced 12 percent in this period.
In comparison, the Nifty Bank index has lost almost 3 percent and Nifty has added around 2 percent in this period. This year so far, SBI has given negative returns in 2 and positive returns in just 1 month whereas BoB has been negative in one and positive in 2 months till date. SBI has shed around 0.7 percent in March so far after a 16.6 percent surge in February.
However, it was flat but in the red (down 0.08 percent) in January 2024. On the other hand, BoB has declined 2.7 percent in March till date after a 6.8 percent and 7.5 percent gain in February and January, respectively. Meanwhile, in the last 1 year, BoB is the better stock.
It has rallied over 62 percent whereas SBI has jumped over 43 percent. In comparison, Nifty Bank has added over 19 percent while Nifty is up over 26 percent. Both SBI and BoB have also hit their record highs in the current month, March.
SBI hit its new peak of ₹793.40 on March 7, 2024, rising over 58 percent from its 52-week low of ₹501.55, hit on March 27, 2023. Meanwhile, BoB also touched its all-time high of ₹285.60 on March 11, 2024, surging 83.5 percent from its 52-week low of ₹155.60, hit on March 16, 2023. Moreover, in the long term, 3 years, BoB has emerged as the winner.
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