Bank of Baroda revises Authorized Capital to Rs 3000 crores

Bank of Baroda has announced that in exercise of the powers conferred by sub-section (2A) of Section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, the Government of India, in consultation with Reserve Bank of India, has increased the Authorised Capital of Nationalised Banks from "One Thousand Five Hundred Crores of Rupees" to "Three Thousand Crores of Rupees" vide notification No. 3123 published in the Official Gazette on November 21, 2009.

Accordingly, the authorised capital of Bank of Baroda stands increased from One Thousand Five Hundred crores of rupees to Three Thousand crores of rupees. This has been placed before the Board of Directors meeting held on January 06, 2010 and taken on record.

The stock closed the day at Rs.534.15, up by Rs.3.45 or 0.65%. The stock hit an intraday high of Rs.539.70 and low of Rs.522.20.

The total traded quantity was 109570 compared to 2 week average of 70417.

Source : Equity Bulls

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