- Bank of Baroda turns volatile as board to consider preferential issue
Hot Pursuit Friday, February 24, 2012 09:50 Hrs IST

Print this page

Bank of Baroda turns volatile as board to consider preferential issue

Bank of Baroda lost 0.43% to Rs 804.95 at 9:45 IST on BSE after the state-run bank said its board of directors will meet on 27 February 2012 to consider preferential issue of equity shares in favour of LIC/mutual funds.

The state-run bank made this announcement after market hours on Thursday, 23 February 2012.

Meanwhile, the BSE Sensex was down 11 points, or 0.06% to 18,067.50.

On BSE, 16,000 shares were traded in the counter as against average daily volume of 81,684 shares in the past one quarter.

The stock witnessed initial volatility. The scrip rose 2.23% at the day's high of Rs 826.50. The stock lost 1.14% at the day's low of Rs 799.20. The stock had hit a 52-week low of Rs 630.35 on 20 December 2011. The stock had hit a 52-week high of Rs 1,006.50 on 28 April 2011.

The stock had underperformed the market over the past one month till 23 February 2012, rising 4.24% compared with the Sensex's 7.92% gain. The scrip had, however, outperformed the market in past one quarter, surging 16.11% as against Sensex's 15.15% gain.

The large-cap state-run bank has an equity capital of Rs 394.28 crore. Face value per share is Rs 10.

Bank of Baroda's net profit rose 20.7% to Rs 1289.85 crore on 39.1% growth in total income to Rs 8821.32 crore in Q3 December 2011 over Q3 December 2010.

The Government of India (GoI) holds 57.03% stake in Bank of Baroda.

Previous Stories
More 4
Other Stories
4  TRIL gallops after inking technology license agreement with Fuji (18-Dec 15:09 Hrs IST)
4  Realty shares jump on bargain hunting (18-Dec 15:07 Hrs IST)
4  Power shares sizzle on likely reforms (18-Dec 14:24 Hrs IST)
4  HDIL gains on bargain hunting (18-Dec 14:12 Hrs IST)
4  Defence stocks in demand (18-Dec 13:58 Hrs IST)
4  Sugar stocks rally (18-Dec 13:21 Hrs IST)
4  Volumes jump at Fulford (India) counter (18-Dec 12:28 Hrs IST)
4  RPP Infra Projects gains after winning new contract (18-Dec 11:49 Hrs IST)
4  SKS Microfinance advances after fund raising (18-Dec 11:43 Hrs IST)
4  SpiceJet turns volatile after resumption of flight schedules (18-Dec 11:28 Hrs IST)