Bank of Baroda, a prominent player in the Banks industry, is contemplating raising INR 10,000 crore through an infrastructure bond issuance to meet the growing demand for credit. This proposal will be discussed in a Board of Directors meeting scheduled for Wednesday.
On Tuesday, ahead of the board meeting, the bank’s shares experienced a slight uptick, trading 0.87% higher at INR 213.60 on the National Stock Exchange (NSE). This brings the bank’s shares close to their 52-week high, with the Price % of 52 Week High standing at 84.27%.
Monday marked the start of Lal Singh’s three-year term as Executive Director at Bank of Baroda. Singh brings a wealth of experience from his previous tenure at Union Bank of India. This could be a positive sign for the bank’s future growth, especially considering that the company’s revenue growth has been accelerating.
In other news, HSBC recently downgraded its rating of Bank of Baroda’s stock from ‘buy’ to ‘hold’. Despite this, Motilal Oswal Securities maintained its ‘buy’ stance on the bank’s stock, highlighting the bank’s robust business growth.
Bank of Baroda’s market capitalization stands at $910.36 million, and it trades at a P/E Ratio of 245.9. These figures suggest that the bank is valued fairly in the market, with Fair Value at $18.01.
