BoB shares decline 4% amid uncertainty over the replacement of its MD, CEO

-

The bank has decided to merge its asset management arm Baroda Asset Management with BNP Paribas Asset Management India, a wholly-owned unit of BNP Paribas AMC Asia.


Shares of Bank of Baroda (BoB) declined 4 percent on BSE on October 14 after P.S. Jayakumar had ended his term as the bank's managing director and chief executive officer of the bank on October 12 while uncertainty over his replacement persisted.

The stock came under pressure as there was no clarity on whether the government would give him an extension or find his replacement.
As per a report by Mint, a replacement for the position will be announced in a day or two.
Jayakumar’s term has ended at a time when Bank of Baroda is still in the process of integrating Dena Bank and Vijaya Bank with itself.
Meanwhile, the bank has decided to merge its asset management arm Baroda Asset Management with BNP Paribas Asset Management India, a wholly-owned unit of BNP Paribas AMC Asia.
The merger will allow both the companies to leverage each other's strengths and offer products for retail and institutional clients, Bank of Baroda said giving any financial details of the deal.
The stock traded 1.43 percent down at Rs 89.50 on BSE around 10:15 hours IST.
Source by: Moneycontrol
Professional Advisory For Help And Support- AllianceResearch

Comments

Post a Comment

Popular posts from this blog

Stocks In News 28-03-2019

-
Stocks in the news: Godrej Agrovet, NBCC, Sheela Foam, Bharat Financial, Unichem Labs, Sheela Foam | Bharat Financial Inclusion | Unichem Laboratories | Ruby Mills and Marathon Nextgen Realty are stocks which are in the news today. Here are stocks that are in the news today: Grasim Industries : Company allots 5,000, 7.65% fully-paid NCDs of Rs 10 lakh each aggregating to Rs 500 crore. Texmo Pipes and Products : Board allotted 13 lakh equity shares at a price of Rs 23.20 per share, aggregating to Rs 3.01 crore to Shree Padmavati Irrigations LLP, promoter group entity on preferential basis. Nelco  board approved sale of company's entire Investment of 12.30% stake in Nelito Systems at a consideration of Rs.6.77 crore to DTS Corporation, Japan Ador Welding : CARE downgraded rating on long term bank facilities to AA— from AA with outlook stable. Mahindra & Mahindra Financial Services : Board approved the acquisition of 1,18,91,511 equity shares of Mahindra Rural Housi...
Read more

stock market news 24.09.2018

-
Image
D-Street erases some losses, Sensex down 400 points; Nifty around 11,000 Automobiles, banks, metals, pharma, and FMCG are all trading lower. Nifty Midcap index is down 3 percent AVIATION DATA  According to reports on CNBC-TV18, the domestic air passenger traffic growth has dipped to 17.2 percent against 20.8 percent month on month. Jet Airways reported passenger load factor (PLF) of 82 percent against 83.9 percent in the previous month. Meanwhile, Spicejet’s PLF was reported at 93.6 percent. IndiGo reported PLFs of 82.8 percent, a fall from 88.7 percent seen during the previous month. The channel also reported market share data for aviation companies. Air India: 12.7 percent against 12.4 percent in the previous month. IndiGo: 41.9 percent against 42.1 percent in the previous month. SpiceJet: 12.4 percent against 12. 3 percent in the previous month. Jet Airways: 13.8 percent against 13.6 percent in the previous month. GoAir: Unchanged at 8.9 perce...
Read more

Trading Some Rule for Share Market.

-
Image
Trading Rules 1. Always apply stop loss, never increase the level of stop loss. If you ignore the stop loss then the market will ignore you the next day. Never put more than 5-10% of your capital in the market | 2. Always maintain your portfolio. 3. Remember, not all shares can make a profit. 4. Intraday investment is like a full-day job, you cannot do it on a part-time basis. 5. It is very important to set your target, just as it is important to book profits on time, in the same way, it is more important to book losses on time. 6. Trade on shares with high volumes for intraday trading. 7. Only invest as much money in the market as you can withstand losses. 8. Do not compete in market trends but follow market trends 9. A small profit is sufficient. Remember that 1% profit of the day will be 300% profit of the year. 10. Instead of being nervous and emotional, work with discipline and patience. 11-12. Never let the profit go in the loss. 13. Take complete in...
Read more