Dena Bank rose 2% to Rs 38.25 at 14:36 IST on BSE after the company said it has raised Rs 446 crore by allotting shares to the government on a preferential basis.
The announcement was made during trading hours today, 4 October 2016.Meanwhile, the BSE Sensex was up 76.36 points, or 0.27%, to 28,319.65.
On BSE, so far 1.64 lakh shares were traded in the counter, compared with average daily volume of 1.65 lakh shares in the past one quarter. The stock hit a high of Rs 39.10 and a low of Rs 37.40 so far during the day. The stock hit a 52-week high of Rs 47.70 on 1 December 2015. The stock hit a 52-week low of Rs 25.60 on 26 February 2016. The stock had outperformed the market over the past 30 days till 3 October 2016, rising 3.45% compared with 1.01% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 12.28% as against Sensex's 3.96% rise.
The small-cap state-run bank has equity capital of Rs 666.93 crore. Face value per share is Rs 10.
Dena Bank said that the issue committee of the board at its meeting held on 3 October 2016 has allotted 12.02 crore equity shares of Rs 10 each at the issue price of Rs 37.10 per equity share to the Government of India on preferential basis, aggregating upto Rs 446 crore.
With this allotment, the subscribed and paid-up capital of the bank increased to Rs 787.15 crore, consisting of 78.71 crore equity shares of Rs 10 each. The government's stake in the bank has increased to 68.55% from 62.89% earlier.
Dena Bank reported net loss of Rs 279.35 crore in Q1 June 2016 as against net profit of Rs 15.16 crore in Q1 June 2015. Operating income fell 0.3% to Rs 2907.35 crore in Q1 June 2016 over Q1 June 2015.
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