Bank of Baroda to get Rs.775 crore from Government of India

Ministry of Finance, Government of India, vide its communication dated September 20, 2011 has informed that they have decided to raise the Govt. of India's holding in Bank of Baroda by infusing a sum of Rs. 775 crore, by way of preferential issue of Equity shares/ Warrants.

The meeting of the Board of Directors of the Bank to be held on October 31, 2011, may consider issuance of Equity Shares/ Warrants of face value of Rs. 10/- each at such price as may be decided as per SEBI ICDR Regulations on preferential basis in favour of Government of India.

The stock closed the day at Rs.719.35, down by Rs.16.90 or 2.30%. The stock hit an intraday high of Rs.735.60 and low of Rs.703.75.

The total traded quantity was 0.96 lakhs compared to 2 week average of 0.41 lakhs.

Source : Equity Bulls

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