Central Bank of India gained 3.93% to Rs 75.45 at 14:15 IST on BSE after the said that a board meet will be held on 3 January 2018, to consider and approve raising of additional equity capital on preferential allotment to government.
The announcement was made on Saturday, 30 December 2017.Meanwhile, the S&P BSE Sensex was up 15.65 points or 0.05% at 34,072.48.
High volume was witnessed on the counter. On the BSE, 55.73 lakh shares were traded on the counter so far as against the average daily volumes of 4.59 lakh shares in the past two weeks. The stock had hit a high of Rs 80 and a low of Rs 73.20 so far during the day. The stock had hit a 52-week high of Rs 125 on 22 May 2017 and a 52-week low of Rs 70.60 on 17 August 2017.
The large-cap state-run bank has equity capital of Rs 1967.75 crore. Face value per share is Rs 10.
Central Bank of India said that a meeting of the capital raising committee of the board of directors of the bank will be held on 3 January 2017, to consider and approve raising of additional equity capital upto Rs 323 crore by issue of equity shares at such issue price as may be decided as per the regulations, to the Government of India on preferential basis.
The government has already sanctioned the said amount as the contribution of the central government in the preferential allotment of equity shares of the bank during FY 2018.
Central Bank of India reported net loss of Rs 750.41 crore in Q2 September 2017, higher than net loss of Rs 641.82 crore in Q2 September 2016. Net sales fell 1% to Rs 6896.26 crore in Q2 September 2017 over Q2 September 2016.
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The government of India held 81.38% stake in the bank as on 30 September 2017.
Central Bank of India is a state-run bank.
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