Bank of baroda news: Bank of Baroda shares are seeing pressure for selling in early trade on Friday. The bank’s board has approved the proposal to raise funds worth Rs 8,500 crore in a meeting held on February 13, Thursday. Bank of Baroda shares fell 0.49 percent to Rs 209.76 per share on NSE at around 10:50 am. The Bank of Baroda is working on a plan to raise funds in the Qualified Institutional Placement (QIP) or other ways, following the regulatory provisions.
The bank said in an exchange filing that “the board of directors of the bank today i.e. in its meeting held on 13.02.2025, as per requirement, till March 2028 and then in appropriate installments in various ways including QIP in various ways through general equity capital through normal equity capital. Has approved to raise capital. “
Bank of Baroda has recorded a net profit of Rs 4,837 crore in the third quarter ended December 31, 2024. The bank’s consolidated was 5.6 per cent higher than Rs 4,579 crore recorded in the previous year’s October-December quarter.
Bank of Baroda stated in a regulatory filing that the total income of the bank increased to Rs 34,676 crore in the third quarter of the current financial year, which was Rs 31,416 crore in the same period last year.
In the third quarter, the income from Bank of Baroda was four percent less than expected. Apart from this, in the last one month, Stock has performed 3 per cent of the PSU Bank Nifty Index. Despite this, Nuwama Institutional Equities retained their ‘purchase’ call on this stock, but has reduced its target price from the earlier Rs 277 to Rs 265 per share.
Both HSBC and Jefferies maintained a ‘hold’ call on Bank of Baroda, while decreasing their target price to Rs 250 per share. The HSBC said that although the asset quality remains good, the bank’s EPS estimates have been cut due to further pressure on the net interest margin.
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