Bank of Baroda rose 1.62% to Rs 175.20 at 9:33 IST on BSE after the bank said that the government will acquire 6.44 crore equity shares of the bank on preferential basis at an issue price of Rs 195.59 per share aggregating to Rs 1260 crore.
The announcement was made after market hours yesterday, 26 February 2015.
Meanwhile, the S&P BSE Sensex was up 169.84 points or 0.59% at 28,916.49.
On BSE, so far 79,000 shares were traded in the counter as against average daily volume of 6.42 lakh shares in the past two weeks.
The stock hit a high of Rs 175.50 and a low of Rs 173.50 so far during the day.
Post allotment, the government's stake in the bank will rise by 1.27% to 57.53%.
Bank of Baroda's net profit declined 68.1% to Rs 333.98 crore on 11.2% growth in total income to Rs 11808.34 crore in Q3 December 2014 over Q3 December 2013.
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