BoB share price closes in negative despite announcing fund raising plans

Pratik Shastri
/ Categories: Trending, DSIJ News
BoB share price closes in negative despite announcing fund raising plans

On Friday, The Vadodara based PSU banking player, Bank of Baroda made an announcement pertaining to raising capital by issuing convertible bonds.

The Bank, in its press release, has said that it has raised Rs 920 crore by issuing 7.44 per cent unsecured, rated, listed, subordinated, non-convertible, fully paid-up, taxable, redeemable, Basel III compliant, tier II bonds on private placement basis.

To comply with Basel-III capital regulations, banks need to improve and strengthen their capital planning processes. These norms are being implemented to mitigate concerns on potential stresses on asset quality and consequential impact on performance and profitability of banks.

Commenting on its capital position, with tier I and overall capital adequacy ratio, under Basel III, at 10.91 per cent and 12.98 per cent, respectively, we can say it is adequately capitalized as of the end of the second quarter of FY20. Its net non-performing assets improved to 3.91 per cent during the same quarter from 4.86 per cent on YoY basis.

On Friday stock closed down by 3.4 per cent at Rs 100.85 on the BSE.

Rate this article:
3.7

Leave a comment

Add comment

DSIJ MINDSHARE

Mkt Commentary28-Mar, 2024

Multibaggers28-Mar, 2024

Interviews28-Mar, 2024

Multibaggers28-Mar, 2024

Multibaggers28-Mar, 2024

Knowledge

General26-Mar, 2024

MF25-Mar, 2024

General18-Mar, 2024

DALAL STREET INVESTMENT JOURNAL - DEMOCRATIZING WEALTH CREATION

Principal Officer: Mr. Shashikant Singh,
Email: principalofficer@dsij.in
Tel: (+91)-20-66663800

Compliance Officer: Mr. Rajesh Padode
Email: complianceofficer@dsij.in
Tel: (+91)-20-66663800

Grievance Officer: Mr. Rajesh Padode
Email: service@dsij.in
Tel: (+91)-20-66663800

Corresponding SEBI regional/local office address- SEBI Bhavan BKC, Plot No.C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra.
Tel: +91-22-26449000 / 40459000 | Fax : +91-22-26449019-22 / 40459019-22 | E-mail : sebi@sebi.gov.in | Toll Free Investor Helpline: 1800 22 7575 | SEBI SCORES | SMARTODR