CapitalMarket.com - 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  Gujarat Sidhee Cement gallops on getting environmental clearance (24-Nov 15:27 Hrs IST)
4  New order boosts VA Tech Wabag (24-Nov 14:47 Hrs IST)
4  Kotak Mahindra Bank, ING Vysya Bank decline in volatile trade (24-Nov 14:45 Hrs IST)
4  Wonderla gains after clarification (24-Nov 14:14 Hrs IST)
4  Rajesh Exports jumps after securing export order (24-Nov 13:42 Hrs IST)
4  KNR Constructions hits record high (24-Nov 13:40 Hrs IST)
4  Tecpro Systems slumps as net loss widens in Q2 (24-Nov 12:54 Hrs IST)
4  Volumes jump at Oscar Investments counter (24-Nov 12:51 Hrs IST)
4  Rain Industries gains on fund buying (24-Nov 12:07 Hrs IST)
4  Lupin scales record high on hopes of hike in foreign investment limit (24-Nov 12:01 Hrs IST)
Next4