Bank of Baroda, Syndicate Bank shares plunge on CBI probe

Shares of public sector lenders Bank of Baroda and Syndicate Bank plunged in Tuesday’s trade.

The share price of Bank of Baroda slid 4.61 per cent to 141.90. The scrip opened the day at Rs 144.90 and touched a high and low of Rs 147.45 and Rs 140.65, respectively, in trade. Sensex closed 12.75 points, or 0.05 per cent, up at 24,659.23.

CBI sleuths carried out searches at 10 locations in the NCR region in connection with the case of alleged illegal remittances to the tune of Rs 6,000 crore to Hong Kong and Dubai from a branch of Bank of Baroda.

Also, CBI on Tuesday carried out searches at 10 locations spread in three cities after registering a case of alleged loan fraud estimated to be around Rs 1000 crore in Syndicate Bank. The share price of Syndicate Bank settled 2.02 per cent down at Rs 60.55.

The BSE Bankex slid 1.29 per cent at 17260.91 in Tuesday’s trade.