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Foreign investment in Bank of Baroda reaches trigger limit

17 May 2014 Evaluate

Reserve Bank of India (RBI) has notified that the foreign share holding through Foreign Institutional Investors (FIIs)/ Non Resident Indian (NRI)/ Persons of Indian Origin (PIO) in Bank of Baroda have reached the trigger limit. Accordingly, further purchases of equity shares of this bank would be allowed only after obtaining prior approval of the RBI.

Bank of Baroda has posted a rise of 12.48% in its net profit at Rs 1157.27 crore for the quarter ended March 31, 2014 as compared to Rs 1028.85 crore for the same quarter in the previous year. Total income of the bank has increased by 13.17% at Rs 11614.85 crore for quarter under review as compared to Rs 10262.50 crore for the quarter ended March 31, 2013.

Peers
Company Name CMP
State Bank Of India 959.00
PNB 112.00
Bank Of Baroda 232.35
Canara Bank 118.60
Union Bank Of India 168.10
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