Syndicate Bank surged 6.09% to Rs 136.75 at 15:21 IST on BSE after the bank said it has raised unsecured redeemable non-convertible Basel II compliant Tier II bonds in the nature of debentures aggregating to Rs 750 crore.
The announcement was made during market hours today, 2 December 2014.
Meanwhile, the S&P BSE Sensex was down 121.31 points or 0.42% at 28,438.31.
On BSE, so far 6.67 lakh shares were traded in the counter as against average daily volume of 2.61 lakh shares in the past one quarter.
The stock hit a high of Rs 137 and a low of Rs 126.25 so far during the day. The stock had hit a record high of Rs 179.10 on 4 July 2014. The stock had hit a 52-week low of Rs 77.95 on 30 January 2014.
The stock had outperformed the market over the past one month till 1 December 2014, advancing 2.5% compared with Sensex's 2.49% rise. The scrip had, however, underperformed the market in past one quarter, surging 4.58% as against Sensex's 6.3% rise.
Also Read
The mid-cap bank has equity capital of Rs 624.58 crore. Face value per share is Rs 10.
Syndicate Bank said that the bonds issue was fully subscribed.
Syndicate Bank's net profit declined 32.9% to Rs 315.60 crore on 17.1% growth in total income to Rs 5680.96 crore in Q2 September 2014 over Q2 September 2013.
The Government of India holds 67.39% stake in Syndicate Bank (as per the shareholding pattern as on 30 September 2014).
Powered by Capital Market - Live News