Bank of Baroda gains after reducing base rate and BPLR

Bank of Baroda rose 1.42% to Rs 153.35 at 14:40 IST on BSE after the bank reduced base rate by 10 basis points from 10% to 9.9% and also reduced bench-mark prime lending rate by 10 basis points from 14.25% to 14.15%.

The bank made announcement during trading hours today, 9 July 2015.

Meanwhile, the S&P BSE Sensex was down 27.07 points or 0.1% at 27,660.65.

On BSE, so far 2.33 lakh shares were traded in the counter as against average daily volume of 8.05 lakh shares in the past one quarter.

The large-cap PSU bank hit a high of Rs 154.90 and a low of Rs 151.25 so far during the day. The stock hit a record high of Rs 228.90 on 23 January 2015. The stock hit a 52-week low of Rs 137.50 on 29 June 2015.

Bank of Baroda said the reduction in both rates will be effective from 13 July 2015.

Bank of Baroda's net profit fell 48.3% to Rs 598.35 crore on 3.8% rise in total income to Rs 12057.39 crore in Q4 March 2015 over Q4 March 2014.

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