Bank of Baroda rose 5.39% to Rs 128.10 at 14:49 IST on BSE after the bank announced capital infusion by the Government of India.
The announcement was made during trading hours today, 28 March 2019.Meanwhile, the S&P BSE Sensex was up 356.67 points, or 0.94% to 38,489.55.
On the BSE, 18.09 lakh shares were traded in the counter so far compared with average daily volumes of 10.47 lakh shares in the past two weeks. The stock had hit a high of Rs 130.15 and a low of Rs 121.55 so far during the day. The stock hit a 52-week high of Rs 157.45 on 9 August 2018. The stock hit a 52-week low of Rs 90.70 on 11 October 2018.
Bank of Baroda said that Ministry of Finance, Government of India vide its notification dated 27 March 2019 has conveyed its decision to infuse capital of Rs 5,042 crore in Bank of Baroda. The capital infusion will be by way of preferential allotment of equity shares of the bank during FY2018-2019, as government's investment.
Net profit of Bank of Baroda rose 321.59% to Rs 471.25 crore on 12.23% increase in total income to Rs 14562.85 crore in Q3 December 2018 over Q3 December 2017.
Government of India held 63.74% stake in Bank of Baroda as per the shareholding pattern as on 31 December 2018.
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