Bank of Baroda strikes 52-week low as sticky loans rise in Q1

Bank of Baroda lost 4.61% to Rs 492.35 at 11:27 IST on BSE, with the stock extending Thursday's 7.92% slide as the bank's sticky loans rose in Q1 June 2013 over Q1 June 2012.

Meanwhile, the S&P BSE Sensex was up 5.83 points or 0.03% at 19,323.02

On BSE, 2.24 lakh shares were traded in the counter as against average daily volume of 1.52 lakh shares in the past one quarter.

The stock hit a 52-week low of Rs 484.05 in intraday trade today, 2 August 2013. The stock hit a high of Rs 523.50 so far during the day. The stock had hit a 52-week high of Rs 899.65 on 3 January 2013.

The stock had underperformed the market over the past one month till 1 August 2013, falling 12.52% compared with the Sensex's 1.33% fall. The scrip had also underperformed the market in past one quarter, sliding 26.13% as against Sensex's 0.96% fall.

The large-cap state-run bank has equity capital of Rs 423.99 crore. Face value per share is Rs 10.

Bank of Baroda's net profit rose 2.5% to Rs 1167.87 crore on 14.9% rise in total income to Rs 10717.49 crore in Q1 June 2013 over Q1 June 2012. The result was announced during market hours on Thursday, 1 August 2013, when the stock dropped 7.92% to Rs 516.15. The stock fell 12.01% in two trading days from a recent high of Rs 560.55 on 31 July 2013.

The bank's ratio of gross non-performing assets (NPA) to gross advances increased to 2.99% as on 30 June 2013, from 2.4% as on 31 March 2013 and 1.84% as on 30 June 2012. The ratio of net NPA to net advances increased to 1.69% as on 30 June 2013, from 1.28% as on 31 March 2013 and 0.65% as on 30 June 2012.

The Government of India holds 55.41% stake in Bank of Baroda (as per the shareholding pattern as on 30 June 2013).

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