Bank of Baroda trades higher on entering into strategic partnership with BNP Paribas Asset Management
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Bank of Baroda is currently trading at Rs. 108.80, up by 1.90 points or 1.78% from its previous closing of Rs. 106.90 on the BSE.
The scrip opened at Rs. 107.70 and has touched a high and low of Rs. 108.90 and Rs. 106.20 respectively. So far 1067789 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 118.85 on 09-Feb-2022 and a 52 week low of Rs. 61.80 on 22-Apr-2021.
Last one week high and low of the scrip stood at Rs. 108.90 and Rs. 96.70 respectively. The current market cap of the company is Rs. 55333.58 crore.
The promoters holding in the company stood at 63.97%, while Institutions and Non-Institutions held 22.02% and 14.00% respectively.
Bank of Baroda and BNP Paribas Asset Management have entered into a strategic partnership by combining the strengths of their respective asset management businesses to form 'Baroda BNP Paribas Mutual Fund'. Bank of Baroda will have a 50.1 percent stake in the asset management company (AMC), while BNP Paribas Asset Management will hold the remaining 49.9 percent.
The resulting jointly held AMC will leverage the strengths that each partner has developed, to offer products specifically designed for retail and institutional clients in India.
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.
