Bank of Baroda jumps on cutting home loan rates by 25 basis points
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Bank of Baroda is currently trading at Rs. 163.70, up by 1.95 points or 1.21% from its previous closing of Rs. 161.75 on the BSE.
The scrip opened at Rs. 161.65 and has touched a high and low of Rs. 164.25 and Rs. 159.90 respectively. So far 1083163 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 168.65 on 11-Nov-2022 and a 52 week low of Rs. 77.00 on 27-Dec-2021.
Last one week high and low of the scrip stood at Rs. 168.65 and Rs. 151.95 respectively. The current market cap of the company is Rs. 84836.20 crore.
The promoters holding in the company stood at 63.97%, while Institutions and Non-Institutions held 27.83% and 8.19% respectively.
Bank of Baroda (BoB) has cut its home loan rates by 25 basis points to 8.25 per cent and also waived the processing fee under a limited period offer. The new rates will also be applicable for those seeking balance transfers and the special rate is linked to the borrower's credit profile.
The bank has seen a robust growth in home loans this year with strong demand across cities and consumer confidence driving home sales. It expects this discounted rate to give a further leg-up to the already high demand.
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.
