Bank of Baroda rose 0.69% to Rs 1,018.80 at 9:18 IST on BSE after the bank said it has decided to raise funds by way of private placement of AT-1 Bonds of Rs 1000 crore with a green shoe option of additional Rs 500 crore.
The announcement was made after market hours yesterday, 26 November 2014.
Meanwhile, the S&P BSE Sensex was up 30.29 points or 0.11% at 28,416.48.
On BSE, so far 1,182 shares were traded in the counter as against average daily volume of 1.22 lakh shares in the past two weeks.
The stock hit a high of Rs 1,019.80 and a low of Rs 1,010.75 so far during the day.
Bank of Baroda said that it has decided to raise funds by way of private placement of AT-1 Bonds (Basel lll Compliant- Tier l) of Rs 1000 crore with a green shoe option of additional Rs 500 crore, limiting the aggregate issue size up to Rs 1500 crore.
Bank of Baroda's net profit declined 5.5% to Rs 1104.22 crore on 13.1% growth in total income to Rs 11817.32 crore in Q2 September 2014 over Q2 September 2013.
Government of India holds 56.26% stake in Bank of Baroda (as per the shareholding pattern as on 30 September 2014).
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