/ Bank Of Baroda Soars Over 3% To Raise Funds Via Bonds ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Wednesday, 15 March 2017

Headquartered in Gujarat, Bank of Baroda is gaining ground in Wednesday’s trading session. The stocks of the company on the National Stock Exchange (NSE) are up by 3.5% on an intraday basis. The state-owned bank, on Tuesday, informed the Exchanges that its board has approved raising of funds via issuance of Basel III compliant Additional Tier-I bonds. 

The bank will raise funds amounting to Rs 500 crore with a green shoe option of Rs 500 crore. The press release during post market hours on Tuesday by the bank also said that the total size should not exceed Rs 1000 crore.     

The stock in Wednesday’s trade hit a high of Rs 167 per share. While in one year period it has delivered 16% returns, underperforming the BSE Sensex and BSE Bankex indices over the same time span. Bank of Baroda is currently trading at Rs 166.2, up by Rs 5.15 or 3.2% from its previous closing of Rs 161.05 on the BSE.

The scrip opened at Rs 161.45 and has touched a high and low of Rs 167.7 and Rs 160.6 respectively. So far 6934015(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 37108.49 crore.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 191.65 on 06-Feb-2017 and a 52 week low of Rs 128.4 on 24-May-2016. Last one week high and low of the scrip stood at Rs 164 and Rs 157.45 respectively.

The promoters holding in the company stood at 59.24 % while Institutions and Non-Institutions held 32.84 % and 7.92 % respectively. The stock is currently trading above its 50 DMA.

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