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Last Updated : Sep 19, 2019 12:08 PM IST | Source: Moneycontrol.com

Central Bank of India shares decline over 2% after ICRA revises outlook on upper tier-II bonds

Year-to-date, shares of the public lender have fallen 46 percent against a 1.4 percent gain in benchmark Sensex.

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Shares of Central Bank of India declined over 2 percent to Rs 19.45 on BSE and looked on course to extend the losing streak into third consecutive session on September 19.

The fall came a day after the state-owned lender said that rating agency ICRA had reaffirmed ICRA A- rating on its upper tier-II bonds but revised the outlook to "negative" from "rating watch with developing implications".

On the lower tier-II bonds, ICRA reaffirmed "ACRA A+" with a negative outlook.

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Year-to-date, shares of the public lender have fallen 46 percent against a 1.4 percent gain in the benchmark Sensex.

The bank is planning to raise Rs 2,000-3,000 crore via equity in multiple tranches over the next two months, Managing Director and Chief Executive Officer Pallav Mohapatra said on August 20.

Around 1150 hours, shares of Central Bank of India were trading at Rs 19.45, down 1.27 percent, on BSE.

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First Published on Sep 19, 2019 12:08 pm
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