Bank of Baroda down 1% post report of Rs 3,000 cr loan purchase from DHFL

Since BoB had an exposure of close to Rs 6,500 crore to DHFL, this will be pared by a little less than Rs 3,000 crore, the report added.

Shares of Bank of Baroda (BoB) slipped  2 per cent to Rs 120 apiece in the early morning trade on Monday after reports surfaced the state-run lender has entered into a transaction with Dewan Housing Finance Corporation(DHFL) to buy loans worth Rs 3,000 crore against its exposure to the non-bank lender. 

At 09:50 am, the stock was trading nearly a per cent lower at Rs 121 apiece on the BSE while shares of DHFL were ruling at Rs 71, down one per cent. On the other hand, the benchmark S&P BSE Sensex was trading 245 points or 0.62 per cent