Dhanlaxmi Bank gains as board to consider fund raising

Dhanlaxmi Bank rose 2.8% to Rs 23.85 at 14:39 IST on BSE after the company announced board meeting on 4 July 2016, to consider the proposal for raising further equity shares on preferential allotment basis.

Meanwhile, the S&P BSE Sensex was up 165.36 points or 0.62% at 26,689.91

On BSE, so far 2.28 lakh shares were traded in the counter as against average daily volume of 96,070 shares in the past one quarter. The stock hit a high of Rs 24.60 and a low of Rs 23.20 so far during the day. The stock had hit a 52-week low of Rs 16.90 on 12 February 2016. The stock had hit a 52-week high of Rs 34.25 on 13 July 2015. The stock had outperformed the market over the past 30 days till 28 June 2016, rising 28.89% compared with Sensex's 0.75% fall. The scrip had also outperformed the market in past one quarter, advancing 18.07% as against Sensex's 4.68% rise.

The small-cap bank has an equity capital of Rs 177.44 crore. Face value per share is Rs 10.

Dhanlaxmi Bank reported a net loss of Rs 131.60 crore in Q4 March 2016, higher than net loss of Rs 266.61 crore in Q4 March 2015. Total income declined 3.88% to Rs 323.98 crore in Q4 March 2016 over Q4 March 2015.

Dhanlaxmi Bank is a private-sector bank incorporated in 1927 at Thrissur in Kerala.

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