The bank is looking to sell its exposure to 35 stressed companies with lender putting entire Rs 2,500 crore exposure to Reliance Communications on sale.
Bank of Baroda was up more than a percent at Rs 100.40 intraday on September 12 after the CNBC-TV18 quoted sources as saying the state lender was looking at selling almost Rs 9,000 crore of bad loans.
The bank is looking to sell its exposure to 35 stressed companies, with the state lender putting the entire Rs 2,500 crore exposure to Reliance Communications on sale.
Bank of Baroda reported slippages of Rs 5,583 crore, with Q1 gross NPA at 10.28 percent.
The bank would raise up to Rs 1,132.05 crore by issuing fresh shares to its staff under the Employee Share Purchase Scheme (ESPS). The decision was taken at a board meeting on September 10, the bank said in a regulatory filing.
"The compensation committee considered and approved Bank of Baroda ESPS-2019 for issue of up to 15 crore new equity shares to all eligible employees of the bank at a discount of 20 percent, the proposed issue price comes to Rs 75.47 per share," the bank said.At 1135 hours, Bank of Baroda was quoting at Rs 100.40, up Rs 1.35, or 1.36 percent. It has touched an intraday high of Rs 102.00 and an intraday low of Rs 98.95. It was trading with volumes of 981,886 shares, compared to its five-day average of 1,366,129 shares, a decrease of 28.13 percent.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.