Bank of India rose 1.99% to Rs 166.85 at 13:54 IST on BSE after the bank said it has completed the allotment of Rs 1000-crore Basel-III compliant unsecured, Tier-II Bonds of 10 years at coupon rate of 9.8% per annum on private placement basis to LIC.
Bank of India said that the issue has been rated AAA by CRISlL.The announcement was made during trading hours today, 26 September 2013.
Meanwhile, the S&P BSE Sensex was up 69.38 points or 0.35% at 19,925.62.
On BSE, 1.33 lakh shares were traded in the counter as against average daily volume of 3.26 lakh shares in the past one quarter.
The stock hit a high of Rs 167.20 and a low of Rs 163.05 so far during the day. The stock had hit a 52-week high of Rs 392.20 on 18 January 2013. The stock had hit a 52-week low of Rs 126.95 on 28 August 2013.
The stock outperformed the market over the past one month till 25 September 2013, jumping 10.92% compared with the Sensex's 7.22% rise. The scrip had, however, underperformed the market in past one quarter, declining 26.64% as against Sensex's 6.59% rise.
The state-run bank has equity capital of Rs 595.90 crore. Face value per share is Rs 10.
BoI's net profit rose 8.6% to Rs 964.18 crore on 13.7% growth in total income to Rs 9722.01 crore in Q1 June 2013 over Q1 June 2012.
The Government of India holds 64.11% stake in BoI (as per the shareholding pattern as on 30 June 2013).
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