Bank of Baroda considers INR 10,000 crore infrastructure bond issuance

Bank of Baroda, a prominent player in the Banks industry according to InvestingPro Tips, is contemplating raising INR 10,000 crore through an infrastructure bond issuance to meet the growing demand for credit. This proposal will be discussed in a Board of Directors meeting scheduled for Wednesday.

On Tuesday, ahead of the board meeting, the bank’s shares experienced a slight uptick, trading 0.87% higher at INR 213.60 on the National Stock Exchange (NSE). This brings the bank’s shares close to their 52-week high, with the Price % of 52 Week High standing at 84.27%, according to InvestingPro Data.

Monday marked the start of Lal Singh’s three-year term as Executive Director at Bank of Baroda. Singh brings a wealth of experience from his previous tenure at Union Bank of India. This could be a positive sign for the bank’s future growth, especially considering that InvestingPro Tips indicates that the company’s revenue growth has been accelerating.

In other news, HSBC recently downgraded its rating of Bank of Baroda’s stock from ‘buy’ to ‘hold’. Despite this, Motilal Oswal Securities maintained its ‘buy’ stance on the bank’s stock, highlighting the bank’s robust business growth. This aligns with the InvestingPro Tip that 2 analysts have revised their earnings upwards for the upcoming period.

Bank of Baroda’s market capitalization stands at $910.36 million, and it trades at a P/E Ratio of 245.9, according to InvestingPro Data. These figures suggest that the bank is valued fairly in the market, with the InvestingPro Fair Value at $18.01.

Investors can find more insights like these on the InvestingPro platform, which offers 16 additional tips for Bank of Baroda, helping users make informed investment decisions.

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