Dhanlaxmi Bank lost 6.72% to Rs 56.20 at 12:19 IST on BSE, with the stock sliding on profit booking after recent steep rally after the bank said its board has approved preferential allotment of 4.39 crore shares at Rs 45.55 per share.
The announcement was made during market hours today, 9 June 2014.
Meanwhile, the S&P BSE Sensex was up 143.15 points or 0.56% at 25,539.61.
On BSE, so far 10.19 lakh shares were traded in the counter as against average daily volume of 3.42 lakh shares in the past one quarter.
The stock hit a high of Rs 60.95 and a low of Rs 55.25 so far during the day. The stock had hit a 52-week high of Rs 61 on Friday, 6 June 2014. The stock had hit a 52-week low of Rs 24.20 on 6 August 2013.
The stock had outperformed the market over the past one month till 6 June 2014, surging 61.1% compared with the Sensex's 12.83% rise. The scrip had also outperformed the market in past one quarter, jumping 72.14% as against Sensex's 18.05% rise.
The small-cap private sector bank has equity capital of Rs 133.53 crore. Face value per share is Rs 10.
Shares of Dhanlaxmi Bank had rallied 33.74% in five trading sessions to settle at Rs 60.25 on Friday, 6 June 2014, from a recent low of Rs 45.05 on 30 May 2014.
Dhanlaxmi Bank's board of directors at its meeting held on Saturday, 7 June 2014, approved the preferential issue of 4.39 crore equity shares of Rs 10 each at a premium of Rs 35.55 per equity share aggregating to Rs 200 crore, subject to the approval of the Reserve Bank of India and the shareholders of the bank.
Dhanlaxmi Bank reported a net loss of Rs 134.26 crore in Q4 March 2014 as against net profit of Rs 28.66 crore in Q4 March 2013. Total income declined 5.7% to Rs 348.02 crore in Q4 March 2014 over Q4 March 2013.
The Kerala-based Dhanlaxmi Bank provides a suite of banking products and services to its customers across retail banking, microfinance and agricultural lending and small and medium enterprises group.
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