Bank of India lost 0.23% to Rs 299.35 at 9:20 IST on BSE after the bank said its board of directors at its meeting held on 29 May 2014, approved raising of Tier-1 and Tier-2 capital.
The announcement of made after market hours on Tuesday, 17 June 2014.
Meanwhile, the S&P BSE Sensex was up 4.62 points or 0.02% at 25,525.81.
On BSE, so far 50,000 shares were traded in the counter as against average daily volume of 8.43 lakh shares in the past two weeks.
The stock hit a high of Rs 303.25 and a low of Rs 298.55 so far during the day.
Bank of India said that its board of directors at a meeting held on 29 May 2014, approved the raising of Tier-1 and Tier-2 capital by issue of fresh equity shares and Tier-1 and Tier-2 bonds at an appropriate time subject to all necessary approvals.
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Bank of India's net profit declined 26.3% to Rs 557.51 crore on 21.7% growth in total income to Rs 11274.09 crore in Q4 March 2014 over Q4 March 2013.
Government of India holds 66.7% stake in Bank of India (as per the shareholding pattern as on 31 March 2014).
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