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Ahead of the merger of Dena Bank and Vijaya Bank with Bank of Baroda, the government has given the latter a booster shot, announcing a capital infusion of ₹5,042 crore.
The capital infusion will be by way of preferential allotment of equity shares (special securities/bonds) of the bank during FY2018-19 as the government’s investment, Bank of Baroda said in a stock exchange notice. Meanwhile, shares of Bank of Baroda jumped nearly 7 per cent on Thursday. The stock climbed 6.62 per cent to close at ₹129.60 on the BSE.
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