Bank of Baroda (BoB), one of the leading public sector lenders, witnessed a gain in share price on Monday after the bank's fourth quarter results surprised on the asset quality.
ICICIdirect said, 'BoB has surprised positively on the asset quality front on a relative basis. However, results were below estimates on the PAT front.' The bank has reported a fall of 48.3% in net profit on year-on-year basis to Rs 5.98 billion for the quarter ended Mar. 31, 2015 as compared to Rs 11.57 billion in the same period last year.
Total income increased by 3.81% to Rs 120.57 billion for the quarter ended Mar. 31, 2015 as compared to Rs 116.15 billion in the same period last year.
Shares of the bank are trading at Rs 163.45, up Rs 18.3, or 12.61% at the Bombay Stock Exchange (BSE) on Monday at 11:35 a.m. The scrip has touched an intra-day high of Rs 166.15 and low of Rs 143.90.
Total volume of shares traded on the bourses today was higher by 21.23 times to 24,559,290 compared with 22-day average volume of 1,156,875.
