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Bank of Baroda Ltd shares rose as much as 4.3 per cent to Rs 114.75, their highest since September 21. The state-run lender posted a 19.7 per cent rise in Q2 net profit, helped by lower provisions, but missed estimates.
The bank's asset quality has improved. Gross bad loans as a percentage of total loans stood at 11.78 per cent at September-end vs 12.46 per cent in the previous quarter, and 11.16 per cent in the same quarter a year earlier.
BoB stock was on track for fourth straight session of gains. Over 9 million shares changed hands in first 10 minutes of trade, vs 30-day average volume of 33.1 million shares. The stock had fallen 31.5 per cent this year as of last close.
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