The announcement was made during trading hours today, 1 January 2013.
Meanwhile, the BSE Sensex was up 138.18 points, or 0.71%, to 19,564.89.
On BSE, 76,000 shares were traded in the counter as against an average daily volume of 62,327 shares in the past one quarter.
The stock hit a high of Rs 71.90 and a low of Rs 74.69 so far during the day. The stock had hit a 52-week high of Rs 94.65 on 17 February 2012. The stock had hit a 52-week low of Rs 58.55 on 6 January 2012.
The stock had outperformed the market over the past one month till 31 December 2012, rising 7.72% compared with the Sensex's 0.45% rise. The scrip had also outperformed the market in past one quarter, rising 5.89% as against Sensex's 3.54% rise.
The small-cap bank has an equity capital of Rs 234.21 crore. Face value per share is Rs 10.
The board of Punjab & Sind Bank has approved raising upto Rs 1000 crore through preferential allotment of equity shares, and/or any other instrument covered under Tier-I capital, to the Government of India/other institutions.
Net profit of Punjab & Sind Bank declined 20.77% to Rs 117.07 crore on 10.2% rise in operating income to Rs 1885.75 crore in Q2 September 2012 over Q2 September 2011.
The Government of India (GoI) held 78.16% stake in Punjab & Sind Bank as at end September 2012.
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