Andhra Bank rose 0.61% to Rs 13.11 after the bank said it raised Rs 200 crore by issuing 11.10 crore shares to the Government of India.
Following the allotment, the government's holding in the bank has increased to 88.25% from 87.81% (as on 31 December 2019).The public sector bank reported a net profit of Rs 162.80 crore in Q3 December 2019 as against a net loss of Rs 578.59 crore in Q3 December 2018. Total income in the December quarter increased by 5.1% YoY to Rs 5595.19 crore.
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