Bank Of Baroda up 1.6% on fund raising plan
Public sector lender Bank of Baroda gained 1.6 percent intraday on Wednesday as the bank will raise Rs 1,550 crore by issuing shares to Indian government on preferential basis.
December 26, 2012 / 14:03 IST
Public sector lender Bank of Baroda gained 1.6 percent intraday on Wednesday as the bank will raise Rs 1,550 crore by issuing shares to Indian government on preferential basis.
"The board of directors of the bank at its meeting held on December 24, 2012 has approved issuance of equity shares of face value of Rs 10 each, for an amount upto Rs 1550 crore, at such price as may be decided as per SEBI (ICDR) Regulations, on preferential basis in favour of Government of India," the bank said in its release.At 13:58 hours IST, the stock rose 1.1 percent to Rs 856.60 on the Bombay Stock Exchange. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
