LIC to invest Rs 100cr in Bank of Maharashtra; stk up 3.3%

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LIC to invest Rs 100cr in Bank of Maharashtra; stk up 3.3%

Shares of Bank of Maharashtra (BoM) rose more than 3% on the back of the news that LIC will invest Rs 100 crore and take its overall holding to 11%, reports CNBC-TV18.

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Shares of Bank of Maharashtra (BoM) rose more than 3% on the back of the news that LIC will invest Rs 100 crore and take its overall holding to 11%, reports CNBC-TV18.

Meanwhile, BoM has approved fund raising via preferential issue of upto Rs 860 crore.

Bank of Maharashtra touched an intraday high of Rs 58.70 and an intraday low of Rs 56.55. At 09:42 hrs the share was quoting at Rs 57.90, up Rs 1.85, or 3.30%. It was trading with volumes of 78,557 shares.