Bank of Baroda rose 3.26% to Rs 188.45 at 09:38 IST on BSE after the bank scheduled a meeting on 21 November 2017 to consider raising up to Rs 6000 crore through a qualified institutional placement and/ or rights issue.
The announcement was made after market hours yesterday, 16 November 2017.Meanwhile, the S&P BSE Sensex was up 370.58 points, or 1.12% to 33,477.40.
On the BSE, 9.51 lakh shares were traded in the counter so far, compared with average daily volumes of 29.40 lakh shares in the past one quarter. The stock had hit a high of Rs 191.95 and a low of Rs 187.50 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.
The large-cap bank has equity capital of Rs 460.83 crore. Face value per share is Rs 2.
Bank of Baroda said that the meeting of the designated board committee i.e. Finance Committee of the board will be held on 21 November 2017 to consider and approve of equity fund through qualified institutions placement (QIP), and/or rights issue for size and amount as may be decided, within overall approval of the board of raising equity capital up to Rs 6000 crore.
Bank of Baroda's net profit fell 35.64% to Rs 355.36 crore on 3.68% 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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