Stocks

Bank of Baroda sees best day in one-and-a-half-year Q4 loss narrows

Reuters Mumbai | Updated on May 23, 2019 Published on May 23, 2019

File photo   -  REUTERS

Shares of Bank of Baroda Limited rose as much as 14.2 per cent to Rs 144, their biggest per cent gain since October 2017.

The majority state-owned lender's March-quarter loss narrowed by more than three times to Rs 991 crore, helped by lower provisions.

The provisions and contingencies were down 19.1 per cent and the provisions for NPA down 21 per cent.

Morgan Stanley maintains that the 'underweight' given uncertainty around the CEO continuity and earnings outlook amid merger with Dena Bank and Vijaya Bank.

Published on May 23, 2019
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