Central Bank of India rose 1.1% to Rs 100.90 at 10:30 IST on BSE after the bank said that the capital raising committee of the board approved raising of equity capital by issuance of equity shares to Government of India.
The announcement was made after trading hours yesterday, 25 July 2016.Meanwhile, the BSE Sensex was down 5.26 points, or 0.02%, to 28,090.08.
On BSE, so far 33,400 shares were traded in the counter, compared with an average volume of 1.55 lakh shares in the past one quarter. The stock hit a high of Rs 102.05 and a low of Rs 99.90 so far during the day. The stock hit a 52-week high of Rs 112 on 20 June 2016. The stock hit a 52-week low of Rs 48.20 on 17 February 2016. The stock had underperformed the market over the past one month till 25 July 2016, falling 5.67% compared with 6.43% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, gaining 23.74% as against Sensex's 9.41% rise.
The large-cap bank has an equity capital of Rs 1761.22 crore. Face value per share is Rs 10.
Central Bank of India said that the capital raising committee of the board of directors of the bank at a meeting held on 25 July 2016 approved raising of equity capital by issuance and allotment of upto 12.38 crore equity shares of the face value of Rs 10 each at the issue price of Rs 104.76 per equity share aggregating to Rs 1297 crore to Government of India on preferential basis. Capital raising committee also decided to hold an extra-ordinary general meeting (EGM) of shareholders on 18 August 2016 to consider and pass the necessary special resolution.
Central Bank of India reported net loss of Rs 597.52 crore in Q4 March 2016 as compared with net profit of Rs 174.29 crore in Q4 March 2015. Total income fell 8.3% to Rs 6711.88 crore in Q4 March 2016 over Q4 March 2015.
As per the shareholding pattern of the bank, the government of India held 80.76% in the bank as on 30 June 2016.
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