Bank of Baroda shares in focus as lender to raise funds via long-term bonds 

Shares of Bank of Baroda are in news today after board of the lender approved raising of Rs 10,000 crore via long term bonds. The stock closed 2.07% lower at Rs 250.65 on Wednesday against the previous close of Rs 255.95 on BSE. Total 3.05 lakh shares of Bank of Baroda changed hands amounting to a turnover of Rs 7.71 crore.

Market cap of the lender fell to Rs 1.29 lakh crore on BSE. The share hit a 52-week high of Rs 298.45 on June 3, 2024 and 52 week low of Rs 214.85 on November 21, 2023.

The share trades lower than the 10 day, 20 day, 50 day, 100 day and 200 day moving averages. The banking stock has gained 11.7% in one year and risen 7.16% since the beginning of this year.

In a month, the stock is up 3.81%.

The board of private sector lender Bank of Baroda has approved the raising of long-term bonds aggregating to Rs 10,000 crore in one or multiple tranches during FY25 for the financing of infrastructure and affordable housing.

"We refer to our letter no BCC:ISD:116:16:433 dated 13.12.2024 and advise that Board of Directors of Bank of Baroda at its meeting held today i.e 18.12.2024 interalia considered & approved raising of long term bonds for financing of infrastructure and affordable housing aggregating to total size upto Rs. 10,000 crore in single or multiple tranches during FY 2024-25 and beyond if found feasible," the lender said.