Finance committee of the bank today approved issuance of AT-1 capital bonds compliant with Basel III capital norms of Reserve Bank of India for minimum amount of Rs 500 crore with green shoe option, total issuance not to exceed Rs 1,650 crore in one or multiple issuance, BoB said.
Top banks are rushing to grab the retail share in the festive season by reducing interest rates on loans and with various offers on home loans.
This comes after a couple of other public sector banks including Bank of Baroda and Andhra Bank earlier in the day announced a reduction in their base rates. RBI will announce key policy rate on October 4.
The bank has revised base rate and BPLR, Bank of Baroda said in a regulatory filing.
The base rate, minimum rate below which a bank cannot lend, has been revised downward from existing 9.50 per cent per annum to 9.15 per cent per annum from October 1, 2017, the bank said.
Prakash Gaba of prakashgaba.com
The hedge fund sold its entire holding of 3.29 percent or 75,817,327 shares of the bank, according to bulk deal data available with BSE.
The loans will be accessed by 2.25 lakh sellers of Amazon on an interest rate of 10.45 - 11.5 percent and will be sanctioned in 3-5 days.
Rajat Bose of rajatkbose.com suggests buying Piramal Enterprises, Bank of Baroda and Bombay Dyeing.
Ashwani Gujral of ashwanigujral.com suggests buying United Spirits, Bank of Baroda and Reliance Infrastructure.
Yogesh Mehta of Motilal Oswal advises buying Reliance Industries, Bank of Baroda and Ashok Leyland.
Ashwani Gujral of ashwanigujral.com suggests buying PNB Housing Finance, Bank of Baroda and DCB Bank.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Torrent Power, V-Guard Industries and Tata Global Beverage and sell Repco Home Finance and Mindtree.
The open market sale of over 2.04 percent stake (or 4,69,80,180 shares) took place between July 10 to September 1, Bank of Baroda said in a regulatory filing.
Sudarshan Sukhani of s2analytics.com is of the view that one can sell Bank of Baroda and Tata Motors and buy Vedanta, M&M Financial Services and Indraprastha Gas.
Ashwani Gujral of ashwanigujral.com is of the view that one can sell Tata Motors DVR, India Cements and Bank of Baroda and buy GSFC and Engineers India.
The scrip of Bank of Baroda declined 2.42 per cent to Rs 140.75, Tata Motors DVR lost 1.97 per cent to Rs 220.75, and Tata Power dipped 1.71 per cent to Rs 77.50 on NSE.
Hit by a major technical glitch this week, Bank of Baroda’s thousands of customers found their savings and current accounts wrongly debited with charges, especially for NEFT and RTGS transactions.
Arihant Capital is bullish on Bank of Baroda has recommended hold rating on the stock with a target price of Rs 164 in its research report dated August 17, 2017.
Banking stocks like UBI, Andhra Bank, OBC, Allahabad Bank, Indian Bank and Bank of Baroda will get astrological support, says Satish Gupta of astrostocktips.
Ashwani Gujral of ashwanigujral.com is of the view that one can buy Container Corporation of India, TVS Motor and Future Consumer and can sell Indo Count Industries and Bank of Baroda.
Chandan Taparia of Motilal Oswal Securities recommends buying Bharat Financial Inclusion and Axis Bank and advises selling Bank of Baroda.
According to Ashwani Gujral of ashwanigujral.com, one can sell Bank of Baroda and Canara Bank and buy Century Textiles and Industries.
Rajat Bose of rajatkbose.com suggests buying Jubilant Foodworks, Bank of Baroda and Exide Industries.
Sudarshan Sukhani of s2analytics.com is of the view that one can sell PVR and Bank of Baroda and buy Bharti Airtel and Ashok Leyland while one may hold ICICI Bank.