Dena Bank corrects on profit booking

Image
Capital Market
Last Updated : Dec 02 2015 | 4:01 PM IST

Dena Bank fell 3.19% to Rs 44 at 15:06 IST on BSE on profit booking after the stock jumped 9.25% in the preceding three trading sessions to Rs 45.45 on 1 December 2015, from a recent low of Rs 41.60 26 November 2015.

Meanwhile, the BSE Sensex was down 49.71 points, or 0.19%, to 26,119.70.

On BSE, so far 2.92 lakh shares were traded in the counter, compared with an average volume of 1.24 lakh shares in the past one quarter.

The stock hit a high of Rs 45.85 and a low of Rs 43.80 so far during the day. The stock hit a 52-week high of Rs 64.45 on 2 January 2015. The stock hit a 52-week low of Rs 38.50 on 18 September 2015.

The stock had outperformed the market over the past one month till 1 December 2015, rising 8.21% compared with 1.83% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 10.85% as against Sensex's 1.84% decline.

The small-cap company has an equity capital of Rs 645.26 crore. Face value per share is Rs 10.

Also Read

Dena Bank announced during trading hours yesterday, 1 December 2015, that its board will meet on Thursday, 3 December 2015, to consider raising funds. Shares of Dena Bank spurted 7.83% to Rs 45.45 yesterday, 1 December 2015.

The board will consider raising AT1 capital upto an amount of Rs 1500 crore in one or more tranche, in one or more instruments. The board will also consider raising Tier 2 capital upto an amount of Rs 1000 crore in one or more tranche, in one or more instruments.

Further, the board will consider raising equity capital of the bank by diluting Government of India (GOI) holding upto 52%, on obtaining necessary approval from GOI.

As on 30 September 2015, the government held 65% stake in Dena Bank.

Dena Bank's net profit fell 24.9% to Rs 38.76 crore on 0.5% decline in operating income to Rs 2872.08 crore in Q2 September 2015 over Q2 September 2014.

Powered by Capital Market - Live News

More From This Section

First Published: Dec 02 2015 | 3:03 PM IST

Next Story