Bank of Baroda gains 4% on government’s decision to infuse Rs5,042cr in bank

The capital infusion will be by way of preferential allotment of equity shares (Special Securities /Bonds) of the bank during FY19.

Mar 28, 2019 05:03 IST India Infoline News Service

Bank of Baroda, in its filing to the exchanges on Thursday, informed that the government has conveyed the decision to infuse the capital of Rs5,042cr in the bank. Reacting to this, shares of the bank climbed 4% on the BSE.

"The capital infusion will be by way of preferential allotment of equity shares (Special Securities /Bonds) of the bank during FY19 as government's investment," the bank said in a press note.

Bank of Baroda is currently at Rs125.90, up by Rs4.35 or 3.58%, from its previous close of Rs121.55 on the BSE.

The scrip opened at Rs121.95 and has touched a high and low of Rs126.35 and Rs121.55, respectively. So far, 1,20,30,559 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs32,156.25cr.


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