Shares of Bank of Baroda Ltd rose as much as 4.24 per cent to Rs 114.2, their biggest intra-day per cent gain in over three weeks.
The company posted a 34.4 per cent jump in June-quarter net profit as interest income surged 62.8 per cent.
Q1 was impacted by higher provisions and should progressively improve. The negatives are well priced, Jefferies said in a note; quarterly provision was up ~52 per cent.
This is the state-run lender's first results announcement after it merged Dena Bank and Vijaya Bank Ltd with itself.
Up to Thursday's close, the BoB stock had fallen 7.8 per cent this year, while peers Punjab National Bank Ltd and Canara Bank Ltd lost 15.4 per cent and 13 per cent, respectively
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.