Why Bank of Baroda shares surged over 4% intraday

Bank of Baroda share price gained over 4 per cent in intraday on Wednesday after the public sector lender said that it has successfully closed the qualified institutional placement (QIP) issue to raise up to Rs 4,500 crore. The Issue opened on February 25 and closed on March 02, 2021.
Bank of Baroda shares opened higher at Rs 84.65 against previous close price of Rs 83.20. The stock rallied as much as 4.44 per cent during the day’s trade so far to hit intraday high of 86.90. The PSU bank shares…

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