BoB shares surge 10%; m-cap rises by Rs 3,395 cr post Q1 nos

Shares of state-run Bank of Baroda surged 10 per cent today, adding Rs 3,395.59 crore to market capitalisation, after the company's net interest income grew for the quarter ended June 30.
The stock zoomed 10.03 per cent to settle at Rs 168.40 on the BSE. During the day, it climbed 10.61 per cent to Rs 169.30.
At the NSE, shares of the company jumped 10.05 per cent to end at Rs 168.60.
Following the surge in the stock, the company's market valuation rose by Rs 3,395.59 crore to Rs 37,241.59 crore.
On the volume front, 27.51 lakh shares of the company changed hands at the BSE and over 3 crore shares were traded at the NSE during the day.

Bank of Baroda said its net profit fell by 23 per cent to Rs 1,052 crore in the quarter ended June 30, dragged down by fall in treasury income and on higher staff expenses.

The bank had reported a profit after tax of Rs 1,362 crore in the same period last year.
Net interest income of the bank marginally grew by 4 per cent to Rs 3,460 crore from Rs 3,328 crore a year ago.
Domestic net interest margin improved to 2.89 per cent from 2.76 per cent.
Other income in the quarter declined by 6 per cent to Rs 967.23 crore from Rs 1,024.54 crore in same quarter last year.

Its trading profit fell by 30 per cent to Rs 157 crore from Rs 224 crore.
Staff expenses rose by 22 per cent to Rs 1,345 crore in the period from Rs 1,106 crore.
In the quarter, the bank saw its asset quality worsening with gross non performing assets at 4.13 per cent as against 3.11 per cent. Net NPA level declined to 2.07 per cent from 1.58 per cent.
Meanwhile, in the broader market, the BSE Sensex ended 141.92 points higher at 27,705.35.