Bank of Baroda inches up after keeping MCLR unchanged

Bank of Baroda rose 0.69% to Rs 139.40 at 13:45 IST on BSE after the bank has kept its Marginal Cost of Funds based Lending Rate unchanged, applicable from 7 March 2018.

The announcement was made after market hours yesterday, 5 March 2018.

Meanwhile, the S&P BSE Sensex was up 78.05 points, or 0.23% to 33,824.83

On the BSE, 3.82 lakh shares were traded in the counter so far, compared with average daily volumes of 10.30 lakh shares in the past two weeks. The stock had hit a high of Rs 141.20 and a low of Rs 137.45 so far during the day. The stock had hit a 52-week high of Rs 206.60 on 26 October 2017. The stock had hit a 52-week low of Rs 133.60 on 23 October 2017.

The large-cap bank has equity capital of Rs 460.83 crore. Face value per share is Rs 2.

Bank of Baroda kept its Marginal Cost of Funds based Lending Rate (MCLR) unchanged, applicable from 7 March 2018. MCLR for overnight loans will be 7.80%, for one month will be 7.85% and for three months will be 7.95%. The MCLR on 6-month loans will be 8.15% and for one-year loans the rate would be 8.30%, the bank said.

Bank of Baroda's net profit fell 55.76% to Rs 111.78 crore on 6.53% rise in total income to Rs 12976.28 crore in Q3 December 2017 over Q3 December 2016.

Government of India holds 58.7% stake in Bank of Baroda as per the shareholding pattern as on 31 December 2017.

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