Vijaya Bank gains after announcing plans to raise capital

Vijaya Bank rose 1.11% to Rs 41.80 at 10:45 IST on BSE after the bank said it intends to raise tier 1 capital through private placement of Basel III complaint additional tier 1 bonds of 10 lakh each at par aggregating to Rs 750 crore.

The announcement was made after market hours yesterday, 7 November 2016.

Meanwhile, the BSE Sensex was up 10.46 points, or 0.04%, to 27,469.45.

On BSE, so far 16,971 shares were traded in the counter, compared with an average volume of 93,211 shares in the past one quarter. The stock hit a high of Rs 42.25 and a low of Rs 41.40 so far during the day. The stock hit a 52-week high of Rs 46.60 on 27 October 2016. The stock hit a 52-week low of Rs 28.70 on 18 January 2016. The stock outperformed the market over the past one month till 7 November 2016, gaining 1.22% compared with Sensex's 2.15% decline. The scrip also outperformed the market in past one quarter, gaining 5.08% as against Sensex's 2.21% fall.

 

The mid-cap PSU bank has an equity capital of Rs 998.85 crore. Face value per share is Rs 10.

Vijaya Bank's net profit rose 34.1% to Rs 154.55 crore on 9.8% rise in total income to Rs 3516.57 crore in Q2 September 2016 over Q2 September 2015.

As per the shareholding pattern, the Government of India held 70.33% stake in the bank as at 30 September 2016. LIC held 13.54% stake in Vijaya Bank as at 30 September 2016.

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