DCB Bank hits 52-week high, has rallied 25% in last 1 month; here's why

On December 8, 2023, the bank's board approved allotment of up to 6.06 million equity shares on a preferential basis, to Aga Khan Fund for Economic Development, at an issue price of Rs 137 per share.

Shares of DCB Bank hit a 52-week high of Rs 141, surging 6 per cent on the BSE in Monday’s intra-day trade on back of over two-fold jump in trading volumes on stable outlook.

In past one month, the stock has zoomed 25 per cent, after Aga Khan Fund for Economic Development, promoter of the private sector bank, expressed interest to infuse ~$10 million (approx. Rs 83 crore) in the bank. The purpose is to further strengthen the bank's capital position and support its growth plans, the lender had said in an exchange filing. In comparison, the S&P BSE