Bank of Baroda fell 2.79% to Rs 942.15 at 12:43 IST on BSE after index provider MSCI said it will delete the stock from its MSCI global standard indexes, effective 2 June 2014.
Meanwhile, the BSE Sensex was up 8.06 points, or 0.03%, to 24,371.11.
On BSE, so far 1.65 lakh shares were traded in the counter, compared with an average volume of 2.76 lakh shares in the past one quarter.
The stock hit a high of Rs 980.35 and a low of Rs 938.70 so far during the day. The stock hit a 52-week high of Rs 1,009 on 16 May 2014. The stock hit a 52-week low of Rs 429.25 on 20 August 2013.
The stock had outperformed the market over the past one month till 19 May 2014, rising 25.68% compared with 7.66% rise in the Sensex. The scrip had also outperformed the market in past one quarter, soaring 82.36% as against Sensex's 17.57% rise.
The large-cap company has an equity capital of Rs 432.15 crore. Face value per share is Rs 10.
Morgan Stanley Capital International (MSCI) Barra is a leading provider of benchmark indices and risk management analytics products. Many global mutual funds are linked with MSCI indices. Hence, deletion of a stock from the MSCI index leads to outflow of passive funds that use the MSCI index to benchmark their portfolios.
Bank of Baroda's (BoB) net profit rose 12.48% to Rs 1157.27 crore on 13.18% increase in total income to Rs 11614.85 crore in Q4 March 2014 over Q4 March 2013.
Government of India holds 56.26% stake in BoB (as on 31 March 2014).
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