Bank of Baroda turns volatile as board to consider preferential share allotment

Bank of Baroda rose 0.06% to Rs 613.20 at 14:48 IST on BSE after the bank said its board will meet on 3 December 2013, to consider approving issue of equity shares up to Rs 550 crore to the Government of India by way of preferential allotment.

The announcement was made during trading hours today, 28 November 2013.

Meanwhile, the S&P BSE Sensex was up 112.19 points or 0.55% at 20,532.45.

On BSE, 1.26 lakh shares were traded in the counter as against average daily volume of 2.37 lakh shares in the past two weeks.

The stock was volatile. The stock rose as much as 1.62% at the day's high of Rs 622.80 so far during the day. The stock lost as much as 0.45% at the day's low of Rs 610.05 so far during the day. The stock had hit a 52-week low of Rs 429.25 on 20 August 2013. The stock had hit a 52-week high of Rs 899.65 on 3 January 2013.

Bank of Baroda's net profit declined 10.2% to Rs 1168.10 crore on 9.4% growth in total income to Rs 10447.31 crore in Q2 September 2013 over Q2 September 2012.

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

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