Bank of Baroda share price tanked 8% on NSE today due to poor quarterly performance. India’s 2nd biggest state-run lender by assets posted a fall of 60 per cent in its first-quarter profit with a rise in bad loans.
The company’s net profit fell to Rs.424 cr ($63.4 million) for the 3 months to June 30, from Rs.1,052 cr a year earlier, Bank of Baroda said in a statement on Thursday.
Market analysts and experts on average had estimated a net profit of Rs.492 cr. Gross bad loans as a percentage of total loans soared to 11.15 per cent as of quarter end-June from 9.99 per cent 3 months earlier.
Currently, Bank of Baroda share price is trading at Rs.147.50, down 8.04% on NSE with a massive traded volume of 2,53,50,427 and a traded value of Rs.37,726.51. The stock opened at Rs.153 from a previous closing of Rs.160.40. At present, the day’s high stands at Rs.153.15 while the day’s low reads at Rs.145. The scrip made a 52- week high of Rs.216.30 (18-AUG-15) and a 52-week low of Rs.109.35 (12-FEB-16).
The closest support level of the stock stands at Rs.154.65 while the closest resistance level of the stock stands at Rs.166.55. The market cap of Bank of Baroda currently amounts to Rs.37059.62 (Cr) while its book value stands at 181.94. For more details on the stock financials, kindly pay a visit to Bank of Baroda share price history.
Good one! Thanks for sharing. By the way What's the benifit of investing in funds over the individual stocks and bonds?
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