DCB Bank hits record high on fund raising plans

Thus far in 2017, the stock has outperformed the market by surging 52% against 9% rise in Sensex.

DCB Bank hit a record high of Rs 164, up 4% on BSE, extending its Thursday’s 2% gain, after the private sector lender said its board approved fund raising plan by up to Rs 400 crore through qualified institutional placement (QIP).

“In the meeting held on Tuesday, March 07, 2017, has approved raising of capital by way of issue of equity shares to qualified institutional buyers to the extent of Rs 400 crore inclusive of share premium,” DCB Bank said in a regulatory filing.

Thus far in 2017, the stock has outperformed the market by surging 52% against