Bank of Baroda gains on signing MoU with M&M

Bank Of Baroda | Bank - Public | BFSI | BSE: 532134 | NSE: BANKBARODA

19 Oct 2020 Evaluate

Bank Of Baroda is currently trading at Rs. 42.10, up by 1.75 points or 4.34% from its previous closing of Rs. 40.35 on the BSE.

The scrip opened at Rs. 40.75 and has touched a high and low of Rs. 42.55 and Rs. 40.60 respectively. So far 1461061 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 108.25 on 29-Nov-2019 and a 52 week low of Rs. 36.05 on 20-May-2020.

Last one week high and low of the scrip stood at Rs. 45.55 and Rs. 40.00 respectively. The current market cap of the company is Rs. 19360.17 crore.

The promoters holding in the company stood at 71.60%, while Institutions and Non-Institutions held 15.30% and 13.10% respectively.

Bank of Baroda (BoB) has signed memorandum of understanding (MoU) with Mahindra and Mahindra (M&M) for tractor finance business. The lender, through its over 5,000 rural and semi-urban branch network, will provide tractor loan facility to customers of M&M.

This MoU will give a boost to agri business and will help farmers in availing hassle-free credit facilities for buying tractors. The tractor financing scheme was first piloted in the UP zone for a year and it has been successful and this is being expanded into 11 zones of the bank.

Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services and treasury services.