Bank of Baroda rose 1.71% to Rs 175.40 at 14:25 IST on BSE after the bank announced that it has kept its lending rates based on marginal cost of funds across various tenures unchanged effective from 7 April 2017.
The announcement was made during market hours today, 5 April 2017.Meanwhile, the S&P Sensex was up 40.21 points or 0.13% at 29,950.43.
On the BSE, 3.87 lakh shares were traded on the counter so far as against the average daily volumes of 16.23 lakh shares in the past one quarter. The stock had hit a high of Rs 176.40 and a low of Rs 172.20 so far during the day. The stock had hit a 52-week high of Rs 191.65 on 6 February 2017 and a 52-week low of Rs 128.40 on 24 May 2016.
The stock had outperformed the market over the past one month till 3 April 2017, gaining 7.81% compared with the Sensex's 3.74% rise. The scrip had also outperformed the market over the past one quarter, gaining 15.82% as against the Sensex's 12.26% rise.
The large-cap bank has equity capital of Rs 460.83 crore. Face value per share is Rs 2.
Bank of Baroda's Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans will be 8.1%, the rate for one month will be 8.15% and for three months it will be 8.2%. The MCLR on 6-month loans will be 8.3% and for one-year loans the rate will be 8.35%, the bank said. MCLR on three-year loans will be 8.5% and for five-year loans the rate will be 8.65%.
Bank of Baroda reported net profit of Rs 252.67 crore in Q3 December 2016, as compared with net loss of Rs 3342.04 crore in Q3 December 2015. Total income rose 3.9% to Rs 12181.04 crore in Q3 December 2016 over Q3 December 2015.
Government of India holds 59.24% stake in Bank of Baroda as on 31 December 2016 as per the shareholding pattern.
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