Central Bank of India fell 3.56% to Rs 101.60 at 14:12 IST on BSE on reports the bank has begun process of selling its stake in housing Finance business.
Meanwhile, the S&P BSE Sensex was down 197.24 points or 0.68% at 28,810.75.
On BSE, so far 3.81 lakh shares were traded in the counter as against average daily volume of 3.76 lakh shares in the past one quarter.
The stock hit a high of Rs 107.25 and a low of Rs 101.05 so far during the day. The stock had hit a 52-week high of Rs 121 on 24 February 2015. The stock had hit a 52-week low of Rs 43.25 on 24 March 2014.
The stock had outperformed the market over the past one month till 25 February 2015, advancing 1.49% compared with the Sensex's 0.93% fall. The scrip had also outperformed the market in past one quarter, surging 42.36% as against Sensex's 2.36% rise.
The large-cap bank has equity capital of Rs 1504.41 crore. Face value per share is Rs 10.
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According to reports, Central Bank of India has begun the process of selling off its housing finance business viz. Cent Bank Home Finance (CBHFL). The bank hopes to raise about Rs 200 crore from the 64% stake in CBHFL, reports suggested.
Central Bank of India's net profit surged 123.7% to Rs 137.65 crore on 4.8% growth in total income to Rs 7032.70 crore in Q3 December 2014 over Q3 December 2013.
The Government of India (GoI) held 84.2% stake in Central Bank of India (as per the shareholding pattern as on 31 December 2014).
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