Bank of Baroda Shares News

The acquisition is subject to execution of investment agreement. The bank further said its equity stake of 12.30 per cent in IDRCL will be reduced to 9.90 per cent by March 31, 2022. The bank said the shares are to be subscribed at Rs 10 per equity share.

After surging 24.18 percent to Rs 142 in intra-day trade, shares of the company finally ended at Rs 139.55, reflecting a sharp gain of 22.04 percent on BSE.

The stock which dipped 10 percent to Rs 143.55 in intra -day trade on BSE, later recovered the lost ground and ended 4.95 percent higher at Rs 167.40.

Shares of Bank of Baroda ended the day over 3 percent lower after the CBI carried out searches at three locations in New Delhi in connection with alleged Rs 6,100 crore remittances sent from BoB to Hong Kong camouflaged as payments for non-existent imports.

Shares in the Mumbai-based bank rose as much as 17.8% and were headed for their biggest daily gain since May 2004.

Shares of Bank of Baroda (BoB) on Friday tumbled 11.5 percent after the company reported a steep 68 percent decline in net profit for the quarter ended December 31, 2014.