Dhanlaxmi Bank rose 2.71% to Rs 24.65 at 12:12 IST on BSE after the bank said that its board approved raising Rs 200 crore through further issue of equity shares on preferential basis.
The announcement was made before trading hours today, 5 July 2016.Meanwhile, the BSE Sensex was down 45.33 points, or 0.17%, to 27,233.43.
On BSE, so far 96,000 shares were traded in the counter, compared with average daily volume of 1.03 lakh shares in the past one quarter. The stock hit a high of Rs 24.90 and a low of Rs 24 so far during the day. The stock hit a 52-week high of Rs 34.25 on 13 July 2015. The stock hit a 52-week low of Rs 16.90 on 12 February 2016. The stock had outperformed the market over the past 30 days till 4 July 2016, rising 19.11% compared with 1.62% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 22.14% as against Sensex's 9.63% rise.
The small-cap company has an equity capital of Rs 177.44 crore. Face value per share is Rs 10.
Dhanlaxmi Bank said that its board of directors approved the proposal for further issue of equity shares upto a maximum of Rs 200 crore on preferential allotment basis. The bank will hold postal ballot for seeking approval of shareholders for the same.
Dhanlaxmi Bank reported a net loss of Rs 131.60 crore in Q4 March 2016, higher than net loss of Rs 266.61 crore in Q4 March 2015. Total income declined 3.88% to Rs 323.98 crore in Q4 March 2016 over Q4 March 2015.
Dhanlaxmi Bank is a private-sector bank incorporated in 1927 at Thrissur in Kerala.
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