Oriental Bank of Commerce fell 0.61% to Rs 188.60 at 10:04 IST on BSE after the bank said it has reduced interest rate on term deposits across various maturities with effect from today, 8 June 2015.
The announcement was made by the bank at the fag end of market hours on Friday, 5 June 2015.
Meanwhile, the S&P BSE Sensex was down 116.06 points or 0.43% at 26,652.43.
On BSE, so far 23,000 shares were traded in the counter as against average daily volume of 2.38 lakh shares in the past one quarter.
The stock was volatile. The stock fell as much as 0.92% at the day's low of Rs 188 so far during the day. The stock rose as much as 0.34% at the day's high of Rs 190.40 so far during the day. The stock had hit a 52-week high of Rs 370.20 on 6 June 2014. The stock had hit a 52-week low of Rs 183.50 on 8 May 2015.
The stock had underperformed the market over the past one month till 5 June 2015, sliding 10.22% compared with Sensex's 2.45% fall. The scrip had also underperformed the market in past one quarter, declining 22.04% as against Sensex's 9.1% fall.
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The mid-cap company has equity capital of Rs 299.85 crore. Face value per share is Rs 10.
Oriental Bank of Commerce (OBC) at the fag end of market hours on Friday, 5 June 2015, said it has reduced interest rate on term deposits across various maturities with effect from 8 June 2015. Interest rate on domestic term deposits (including NRO deposits) of less than Rs 1 crore in the maturity bucket of 270 days to less than 1 year was reduced to 7.75% from 8%. Interest rate on domestic term deposits in the maturity bucket of 1 year to less than 2 years was reduced to 8.15% to 8.5%. Interest rate on domestic term deposits in the maturity bucket of 2 years to 10 years was reduced to 7.75% from 8.25%.
OBC reported net loss of Rs 178.44 crore in Q4 March 2015 as against net profit of Rs 310.32 crore in Q4 March 2014. Total income rose 1.1% to Rs 5719.39 crore in Q4 March 2015 over Q4 March 2014.
The Government of India (GoI) held 59.13% stake in OBC (as per the shareholding pattern as on 31 March 2015).
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