Central Bank of India rose 2.16% to Rs 78.10 at 14:42 IST on BSE after the bank said that it has fixed issue price of Rs 81.83 per share for preferential allotment of shares to LIC.
The announcement was made during market hours today, 16 June 2014.
Meanwhile, the S&P BSE Sensex was down 12.34 points or 0.05% at 25,215.83.
On BSE, so far 3.56 lakh shares were traded in the counter as against average daily volume of 4.28 lakh shares in the past one quarter.
The stock was volatile. The stock rose as much as 3.92% at the day's high of Rs 79.45 so far during the day. The stock lost as much as 3.92% at the day's low of Rs 73.45 so far during the day. The stock had hit a 52-week high of Rs 88.85 on 9 June 2014. The stock had hit a 52-week low of Rs 43.05 on 24 February 2014.
The stock had outperformed the market over the past one month till 13 June 2014, surging 37.87% compared with the Sensex's 5.68% rise. The scrip had also outperformed the market in past one quarter, jumping 70.65% as against Sensex's 15.86% rise.
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The large-cap state-run bank has equity capital of Rs 1350.44 crore. Face value per share is Rs 10.
Central Bank of India during market hours today, 16 June 2014 said that Capital Raising Committee of the Board at its meeting held on even date i.e. Friday, 13 June 2014, being the relevant date, has fixed the issue price of Rs 81.83 per equity share (including premium of Rs 71.83 per equity share) for preferential allotment of 7.10 crore shares to Life Insurance Corporation of India (LIC).
Central Bank of India's net profit declined 4% to Rs 162.44 crore on 8.7% growth in total income to Rs 6961.67 crore in Q4 March 2014 over Q4 March 2013.
The Government of India (GoI) holds 88.63% stake in Central Bank of India (as per the shareholding pattern as on 31 March 2014).
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