Bank of Maharashtra rose 1.17% to Rs 34.65 at 11:21 IST on BSE after the bank scheduled a board meeting on 1 September 2015, to consider raising of equity capital by way of preference allotment to Government of India.
Meanwhile, the S&P BSE Sensex was up 351.41 points or 1.37% at 26,066.07
On BSE, so far 3,693 shares were traded in the counter as against average daily volume of 57,335 shares in the past one quarter.
The stock hit a high of Rs 34.75 and a low of Rs 34.05 so far during the day. The stock had hit a 52-week high of Rs 48.75 on 16 September 2014. The stock had hit a 52-week low of Rs 32.60 on 25 August 2015.
The stock had underperformed the market over the past one month till 26 August 2015, falling 10.34% compared with 8.53% fall in the Sensex. The stock also underperformed the market in past one quarter, declining 10.22% as against Sensex's 6.6% decline.
The mid-cap bank has equity capital of Rs 1063.18 crore. Face value per share is Rs 10.
Bank of Maharashtra's net profit dropped 49.6% to Rs 59.44 crore on 7.3% growth in total income to Rs 3526.13 crore in Q1 June 2015 over Q1 June 2014.
The Government of India (GoI) held 79.8% stake in Bank of Maharashtra (as per the shareholding pattern as on 30 June 2015).
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