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Bank of Baroda rallies 6% after govt infuses Rs 5,042 crore

At 1324 hrs, Bank of Baroda was quoting Rs 128.40, up 5.59 percent on the BSE.

March 28, 2019 / 01:33 PM IST

Shares of Bank of Baroda surged nearly 6 percent intraday on March 28 after the government decided to infuse Rs 5,042 crore into the state-owned bank.

The finance ministry through its notification on March 27 conveyed its decision to infuse a capital of Rs 5,042 crore in BoB, the bank said in a BSE filing.

The influx of funds from the centre happens ahead of BOB's merger with two other public sector lenders Dena Bank and Vijaya Bank. The merger of the three public sector banks will be effective from April 1.

At 1324 hours, Bank of Baroda was quoting at Rs 128.40, up 5.59 percent on the BSE.



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Moneycontrol News
first published: Mar 28, 2019 01:33 pm
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