Announced Thu, 2 Jul · 14:08 IST
Bank of Baroda settles NMC Health litigation for USD 600 million
BANKBARODA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-7.0%1-day move
₹271.20
prior close
₹267.70
base price
In-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-1.8-1.2-2.2-2.3-7.0-7.8-8.7-11.1-9.8-7.7-10.4———
Up moveDown movePending
AI summary
Bank of Baroda has entered an out-of-court settlement with joint administrators of NMC Health PLC and related entities in the Abu Dhabi Global Market Court and the High Court of Justice of England and Wales. The bank will pay USD 600 million (about Rs. 5,700 crores) through its Abu Dhabi Branch to resolve all claims without admission of liability. ADGM proceedings are discontinued and English proceedings are being withdrawn.
Likely market impact
Removes prolonged legal uncertainty but bank takes about Rs 5,700 crore hit with no liability admitted, likely weighing on near-term earnings.