Bank of Baroda drops 9.74% in two days on weak Q3 numbers

Meanwhile, the BSE Sensex was down 86.52 points, or 0.44%, to 19,664.67

On BSE, 3.19 lakh shares were traded in the counter as against an average daily volume of 87,908 shares in the past one quarter.

The stock hit a high of Rs 799.20 and a low of Rs 778.10 so far during the day. The stock had hit a 52-week high of Rs 899.65 on 3 January 2013. The stock had hit a 52-week low of Rs 606.25 on 6 September 2012.

The stock had underperformed the market over the past one month till 4 February 2013, falling 9.28% compared with the Sensex's 0.17% fall. The scrip, however, outperformed the market in past one quarter, advancing 7.94% as against Sensex's 5.31% rise.

The large-cap bank has an equity capital of Rs 413.86 crore. Face value per share is Rs 10.

Shares of Bank of Baroda fell 9.74% in two trading days from Rs 867.15 on 1 February 2013 after the state-run bank reported weak Q3 numbers during trading hours on Monday, 4 February 2013.

Bank of Baroda reported 21.3% fall in net profit to Rs 1011.62 crore on 9.80% increase in total income to Rs 9685.51 crore in Q3 December 2012 over Q3 December 2011.

Bank of Baroda's ratio of net non-performing assets to net advances stood at 1.12% as on 31 December 2012, compared with 0.82% as on 30 September 2012 and 0.51% as on 31 December 2011.

The bank's ratio of gross non-performing assets (NPA) to gross advances stood at 2.41% as on 31 December 2012, compared with 1.98% as on 30 September 2012 and 1.48% as on 31 December 2011.

Provisions and contingencies rose 23.09% to Rs 1029.31 crore in Q3 December 2012 over Q3 December 2011. The provisioning coverage ratio as on 31 December 2012 stood at 70.88%.

The bank's Capital Adequacy Ratio (CAR) as per Basel II norms stood at 12.66% as on 31 December 2012, compared with 12.91% as on 30 September 2012 and 13.45% as on 31 December 2011

Meanwhile, Bank of Baroda said that its board approved raising Rs 860 crore by issuing equity shares on preferential basis to the Government of India (GOI). The bank has fixed an extraordinary general meeting (EGM) on 11 March 2013, for the purpose.

Government of India owned 54.31% stake in Bank of Baroda (as on 31 December 2012).

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