Bank of Baroda rose 1.92% to Rs 172.30 at 9:22 IST on BSE after the bank said its board will consider raising additional funds on 22 December 2017.
The announcement was made after market hours yesterday, 18 December 2017.Meanwhile, the S&P BSE Sensex was up 127.90 points, or 0.38% to 33,729.58.
On the BSE, 1.27 lakh shares were traded in the counter so far, compared with average daily volumes of 8.54 lakh shares in the past two weeks. The stock had hit a high of Rs 172.90 and a low of Rs 171.20 so far during the day. The stock hit a 52-week high of Rs 206.60 on 26 October 2017. The stock hit a 52-week low of Rs 133.60 on 23 October 2017.
Bank of Baroda said that its board will meet on 22 December 2017, to consider a proposal to approve raising of additional capital funds in domestic / overseas markets eligible to be reckoned as BASEL-III Compliant Additional Tier-I (AT-I) Capital. It will be over and above Rs 3000 crore already approved by the board at its meeting held on 27 May 2017.
Bank of Baroda's net profit fell 35.6% to Rs 355.36 crore on 3.7% rise in total income to Rs 12490.39 crore in Q2 September 2017 over Q2 September 2016.
Government of India holds 59.24% stake in Bank of Baroda as per the shareholding pattern as on 30 September 2017.
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