Ahead of the merger of Dena Bank and Vijaya Bank with Bank of Baroda, the government has given the latter a booster shot, announcing a capital infusion of ₹5,042 crore.
The capital infusion will be by way of preferential allotment of equity shares (special securities/bonds) of the bank during FY2018-19 as the government’s investment, Bank of Baroda said in a stock exchange notice. Meanwhile, shares of Bank of Baroda jumped nearly 7 per cent on Thursday. The stock climbed 6.62 per cent to close at ₹129.60 on the BSE.
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.