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Bank of India gains after board plans to consider raising capital

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Capital Market
Last Updated : Feb 08 2016 | 12:13 PM IST

Bank of India rose 1.43% to Rs 99.20 at 10:30 IST on BSE after the bank announced that a meeting of the bank's board of directors will be held on 11 February 2016, to discuss the capital raising plans of the bank.

The announcement was made by the bank on Saturday, 6 February 2016.

Meanwhile, the BSE Sensex was almost unchanged at 24,617.41.

On BSE, so far 1.13 lakh shares were traded in the counter, compared with an average volume of 4.66 lakh shares in the past one quarter. The stock hit a high of Rs 100.40 and a low of Rs 97 so far during the day. The stock hit a 52-week high of Rs 260.85 on 5 February 2015. The stock hit a 52-week low of Rs 90.10 on 20 January 2016. The stock had underperformed the market over the past one month till 5 February 2016, sliding 14.32% compared with 3.77% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 25.97% as against Sensex's 6.41% fall.

The mid-cap PSU bank has an equity capital of Rs 811.91 crore. Face value per share is Rs 10.

Bank of India reported net loss of Rs 1126.24 crore in Q2 September 2015 as against net profit of Rs 786 crore in Q2 September 2014. Operating income declined 6.5% to Rs 11317.97 crore in Q2 September 2015 over Q2 September 2014.

As per the shareholding pattern, the Government of India holds 70.13% stake in Bank of India as at 31 December 2015.

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First Published: Feb 08 2016 | 10:23 AM IST

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