Jan 09, 2013, 11.33 AM | Source: Moneycontrol.com
State-owned lender Bank of India rallied as much as 1.75 percent intraday on Wednesday on fund raising plan.
Yesterday in a meeting, the board of directors of the bank have approved the raising of Tier-I capital by issue fresh equity shares to the Government of India (promoters) or to other investors, on preferential basis or otherwise, subject to necessary approvals.
The government of India owns holds 62.72 percent stake or 35.99 crore equity shares of the bank.
At 09:37 hours IST, the stock rose 1.51 percent to Rs 370.40 on Bombay Stock Exchange. The share price surged 21 percent in last one month and 26 percent in one year.
Bank of India stock price
On May 24, 2016, Bank Of India closed at Rs 80.35, down Rs 0.2, or 0.25 percent. The 52-week high of the share was Rs 207.95 and the 52-week low was Rs 79.15.
The latest book value of the company is Rs 377.03 per share. At current value, the price-to-book value of the company was 0.21.
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