State Bank of Travancore gained 3.21% to Rs 558.20 at 11:10 IST on BSE after the bank fixed 4 March 2015 as the record date for the purpose of 1 for 5 rights issue.
The bank made the announcement after market hours on Friday, 20 February 2015.
The rights issue price of Rs 400 per share was at a discount of 28.34% to the ruling price.
Meanwhile, the S&P BSE Sensex was up 78.35 points or 0.27% at 29,302.35.
On BSE, so far 3,618 shares were traded in the counter as against average daily volume of 10,075 shares in the past two weeks.
The stock hit a high of Rs 565 and a low of Rs 545.50 so far during the day. The stock had hit a 52-week high of Rs 662.90 on 11 June 2014. The stock had hit a 52-week low of Rs 364.50 on 14 March 2014.
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The stock had underperformed the market over the past one month till 20 February 2015, falling 3.24% compared with 1.55% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 7.87% as against Sensex's 4.15% rise.
The mid-cap public sector bank has an equity capital of Rs 59.25 crore. Face value per share is Rs 10.
State Bank of Travancore said that 4 March 2015 has been fixed as the record date for the purpose of 1 for 5 rights issue. The bank's board at its meeting held on 20 February 2015, had set rights issue price of Rs 400 per share with an issue size of Rs 474.03 crore and number of shares to be issued are 1.18 crore shares.
State Bank of Travancore's net profit jumped 403.7% to Rs 74.34 crore on 1% rise in total income to Rs 2627.06 crore in Q3 December 2014 over Q3 Decmber 2013.
The Government of India holds 78.91% stake in the bank as at 31 December 2014.
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