Bank of Baroda Share Price – NSE /  BSE

Banks, Mid Cap

On sequential basis, the company’s domestic deposits rose 1.31% from Rs 11,50,791 crore as on 30th September 2024.

Domestic advances jumped 11.76% YoY to Rs 9,63,438 crore as on 31st December 2024 and Domestic retail advances stood at Rs 2,43,303 crore as on 31st December 2024, registering the growth of 19.48% as compared with Rs 2,03,627 crore as on 31st December 2023.

As of 31st December 2024, Global business grew 11.74% YoY to Rs 25,64,068 crore. Global deposits increased 11.82% to Rs 13,92,462 crore as on 31st December 2024 as against Rs 12,45,300 crore as on 31st December 2023.

The bank’s global advances stood at Rs 11,71,606 crore as on 31st December 2024., up 11.76% YoY.

Bank of Baroda is one of India's largest banks with a strong domestic presence spanning 8,266 branches and 10,419 ATMs and Cash Recyclers supported by self-service channels. The Bank has a significant international presence with a network of 84 overseas offices spanning 17 countries. As of 30th September 2024, Government of India held 63.97% stake in the bank.

The bank’s standalone net profit jumped 23.16% to Rs 5,237.93 crore in Q2 FY25 as compared with Rs 4,252.89 crore in Q2 FY24. Total income increased 10.65% YoY to Rs 35,444.70 crore in Q2 FY25.

The scrip declined 4.45% to Rs 230.85 on the BSE.

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Bank of Baroda announced the completion of tenure of Ajay Singhal as Director of Bank of Baroda with effect from 20 December 2024.

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These bonds will be issued in single or multiple tranches during FY 2024-25 and beyond if found feasible.

Bank of Baroda is one of India's largest banks with a strong domestic presence spanning 8,266 branches and 10,419 ATMs and Cash Recyclers supported by self-service channels. The Bank has a significant international presence with a network of 84 overseas offices spanning 17 countries. As of 30 September 2024, Government of India held 63.97% stake in the bank.

The bank reported 23.16% jump in standalone net profit to Rs 5,237.93 crore on 10.65% increase in total income to Rs 35,444.70 crore in Q2 FY25 over Q2 FY24.

The scrip declined 0.80% to Rs 248.65 on the BSE.

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The domestic equity indices traded with major losses in early trade. The Nifty slipped below the 23,900 level. All the sectoral indices on NSE traded in the red with metal, realty and PSU bank shares declining the most.

At 09:29 IST, the barometer index, the S&P BSE Sensex, tumbled 970.83 points or 1.21% to 79,211.82. The Nifty 50 index dropped 301.60 points or 1.25% to 23,897.25.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index plunged 1.52% and the S&P BSE Small-Cap index fell 1.39%.

The market breadth was weak. On the BSE, 539 shares rose and 2,340 shares fell. A total of 102 shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,316.81 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 4,084.08 crore in the Indian equity market on 18 December 2024, provisional data showed.

Stocks in Spotlight:

Bank of Baroda slipped 1.64%. The bank’s board has approved to raise Rs 10,000 crore through long term bonds for financing of infrastructure and affordable housing in single or multiple tranches during the FY25.

FDC shed 0.12%. The company received final approval from US Food and Drug Administration (USFDA) for abbreviated new drug application for Cefixime 400 mg tablets. The FDA had inspected the company’s manufacturing facility in Himachal Pradesh.

IOL Chemicals and Pharmaceuticals rallied 3.83% after the company’s board will meet on 27 December 2024, to consider stock split.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 0.51% to 6.896 as compared with previous close 6.861.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 85.0625, compared with its close of 84.9450 during the previous trading session.

MCX Gold futures for the 5 February 2024 settlement slipped 0.83% to Rs 76,017.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.04% to 108.07.

The United States 10-year bond yield added 0.31% to 4.512.

In the commodities market, Brent crude for February 2024 settlement lost 28 cents, or 0.38% to $73.11 a barrel.

Global Markets:

The Dow Jones index futures were up 108 points, signaling a positive opening for U.S. stocks today.

Asian stocks fell on Thursday, with technology shares leading the decline. This followed the Federal Reserve's decision to cut interest rates by 25 basis points on Wednesday, its third consecutive rate reduction. However, the Fed hinted at fewer rate cuts in 2025 due to persistent inflation and a resilient economy.

Investors are now focused on the Bank of Japan's policy decision later today. Market sentiment is divided over whether the bank will opt for a rate hike or maintain its current stance.

The Fed's rate cut brought the target range to 4.25%-4.50%. While Chair Jerome Powell emphasized that future rate reductions would depend on inflation progress, the central bank's updated economic projections suggest a less dovish stance than previously anticipated. Policymakers now foresee two 25-basis-point rate cuts next year, compared to the four cuts projected in September.

The Fed's projections also indicate that inflation remains above the 2% target. It expects inflation to be 2.4% this year and 2.5% next year. Additionally, the central bank forecasts slightly stronger economic growth and lower unemployment in 2025.

The prospect of higher-for-longer interest rates weighed heavily on Wall Street on Wednesday. Technology stocks bore the brunt of the sell-off, with NVIDIA, Tesla, Intel, and Broadcom experiencing significant declines.

The S&P 500 fell 3%, the NASDAQ Composite dropped 3.6%, and the Dow Jones Industrial Average declined 2.6%. The Dow's 10-day losing streak is its longest since 1974.

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