Vijaya Bank rose 1.08% to Rs 32.85 at 12:12 IST on BSE after the bank said that its board will meet on 3 March 2016 to consider raising upto Rs 226 crore by issuing shares to Life Insurance Corporation of India.
The announcement was made before trading hours today, 3 March 2016.Meanwhile, the BSE Sensex was up 246.64 points, or 1.02%, to 24,489.62 .
On BSE, so far 81,000 shares were traded in the counter, compared with an average volume of 53,024 shares in the past one quarter. The stock hit a high of Rs 33.60 and a low of Rs 32.45 so far during the day. The stock hit a 52-week high of Rs 50.70 on 4 March 2015. The stock hit a 52-week low of Rs 28.70 on 18 January 2016. The stock had outperformed the market over the past one month till 2 March 2016, rising 6.04% compared with 1.21% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 7.41% as against Sensex's 7.18% fall.
The small-cap company has an equity capital of Rs 859.12 crore. Face value per share is Rs 10.
Vijaya Bank said that a meeting of the board of directors of the bank will be held on 3 March 2016 to consider the proposal for issue equity shares to Life Insurance Corporation of India (LIC) through preferential issue upto Rs 226 crore.
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Net profit of Vijaya Bank rose 40.67% to Rs 52.61 crore on 2% decline in operating income to Rs 3237.02 crore in Q3 December 2015 over Q3 December 2014.
As per the shareholding pattern, the Government of India held 74.06% stake in the bank as at 31 March 2015.
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