Bank of Maharashtra recovers after 4-day 7.2% slide

Meanwhile, the BSE Sensex was up 151.31 points or 0.76% at 19,968.94.

On BSE, 26,000 shares were traded in the counter as against average daily volume of 1.08 lakh shares in the past one quarter.

The stock hit a high of Rs 59.95 and a low of Rs 59.35 so far during the day. The stock had hit a 52-week high of Rs 66.20 on 8 January 2013. The stock had hit a 52-week low of Rs 42.90 on 29 August 2012.

The stock had underperformed the market over the past one month till 16 January 2013, rising 1.55% compared with the Sensex's 2.59% gain. The scrip had, however, outperformed the market in past one quarter, jumping 19.39% as against Sensex's 6.67% surge.

The state-run bank has equity capital of Rs 589.59 crore. Face value per share is Rs 10.

Share of Bank of Maharashtra had declined 7.22% in four trading sessions to settle at Rs 59.10 on Wednesday, 16 January 2013, from a recent high of Rs 63.70 on 10 January 2013.

Bank of Maharashtra's board of directors at a meeting held on 10 January 2013 approved raising of equity share capital upto Rs 200 crore (face value) as follow on public offer (FPO) and/or on right issue and/or by way of placement of equity shares through qualified institutional placement (QIP) in FY 2013-14.

Bank of Maharashtra's net profit jumped 65.3% to Rs 166.01 crore on 25.1% growth in total income to Rs 2434.09 crore in Q2 September 2012 over Q2 September 2011.

The Government of India holds 78.95% stake in Bank of Maharashtra (as per the shareholding pattern as on 30 September 2012).

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