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Bank of Baroda’s rising NPAs may force it to sell assets

By DSIJ Team | 8/12/2017 1:07 PM Saturday

With its gross non-performing assets (NPAs) increasing to Rs 46,172 crore as on June 30, 2017, Bank of Baroda is likely to sell some of its non-core assets valued at about Rs 2,000 crore during FY18. The NPAs have increased from Rs 42,991 crore as of June 2016. In terms of percentile, the gross NPA ratio rose to 11.40% of gross advances as against 11.15% last year.
 
Taking refuge in the insolvency process, the bank may file 26 accounts with the National Company Law Tribunal (NCLT). Meanwhile, its Q1FY18 results revealed the NII for the quarter to be 3.3% lower than the estimated figure of Rs 3,520 crore. The net profit was lower by 55.7% lower than the estimated figure of Rs 459 crore. Its ROA was at 0.12% and CAR at 11.81% for the quarter end.

 

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Index trend and stocks in action July 22, 2019

Karan DSIJ / Article rating: 5.0

We believe the next major support area for the Nifty is in the zone of 11,300-11,320. On the upside, any pullback rally towards 11,550-11,570 is likely to be resisted and this area is the likely hurdle going forward. Stocks in news: BHEL, CIPLA, Dr Reddy’s Laboratories, CG Power and Industrial Solutions, Strides Pharma Science, IOL Chemicals and Pharmaceuticals, Reliance Industries, McNally Bharat Engineering.

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