Bank of Maharashtra rose 1.62% to Rs 28.30 at 12:36 IST on BSE after the bank decided to raise funds through various modes.
Bank of Maharashtra said that the bank has decided to raise capital through follow-on public offer (FPO)/ rights issue/ qualified institutional placement (QIP) etc., upto Rs 1000 crore, subject to the necessary approvals. The announcement was mad during market hours today, 2 June 2016.Meanwhile, the BSE Sensex was down 45.39 points, or 0.17%, to 26,668.54
On BSE, so far 20,403 shares were traded in the counter, compared with an average volume of 19,220 shares in the past one quarter. The stock hit a high of Rs 28.95 and a low of Rs 27.70 so far during the day. The stock hit a 52-week high of Rs 42 on 21 July 2015. The stock hit a 52-week low of Rs 26.75 on 12 February 2016. The stock had underperformed the market over the past one month till 1 June 2016, falling 6.39% compared with 4.32% gains in the Sensex. The scrip had also underperformed the market in past one quarter, falling 4.3% as against Sensex's 12.34% gains.
The mid-cap bank has an equity capital of Rs 1168.33 crore. Face value per share is Rs 10.
Bank of Maharashtra reported net loss of Rs 119.84 crore in Q4 March 2016 compared with net profit of Rs 112.72 crore in Q4 March 2015. Total income fell 0.9% to Rs 3566.68 in Q4 March 2016 over Q4 March 2015.
The Government of India (GoI) held 81.61% stake in Bank of Maharashtra (as per the shareholding pattern as on 31 March 2016).
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