Development Credit Bank is currently trading at Rs. 47.10, up by 0.15 points or 0.32% from its previous closing of Rs. 46.95 on the BSE.
The scrip opened at Rs. 48.40 and has touched a high and low of Rs. 48.65 and Rs. 46.50 respectively. So far 372302 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 66.00 on 14-Jul-2011 and a 52 week low of Rs. 30.80 on 29-Dec-2011.
Last one week high and low of the scrip stood at Rs. 51.20 and Rs. 45.00 respectively. The current market cap of the company is Rs. 935.43 crore.
The promoters holding in the company stood at 23.06% while Institutions and Non-Institutions held 7.85% and 69.08% respectively.
Development Credit Bank (DCB) is likely to raise up to Rs 100 crore by way of preferential issue to Wolfensohn Capital Partners, LP or its wholly-owned subsidiary, Tano Mauritius India FVCI II and TVS Shriram Growth Fund I.
The bank has received approval from the board of directors for raising up to Rs 100 crore through a preferential issue at Rs 47.84 per share aggregating up to 9.34 per cent of the post-issue share capital of the bank.
The bank’s net profit for the quarter under review surged by 91.43% at Rs 15.64 crore as compared to Rs 8.17 crore for the quarter ended December 31, 2010. Its total income has increased by 26.16% to Rs 209.72 crore for the quarter under review from Rs 166.23 crore for the similar quarter of the previous year.
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