Bank of Maharashtra surges on LIC hiking its stake in the bank to 9.97%

17 May 2012 Evaluate

Bank of Maharashtra is currently trading at Rs. 47.60, up by 0.60 points or 1.28% from its previous closing of Rs. 47.00 on the BSE.

The scrip opened at Rs. 47.40 and has touched a high and low of Rs. 47.85 and Rs. 47.15 respectively. So far 10742 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 59.95 on 01-Jun-2011 and a 52 week low of Rs. 37.75 on 29-Dec-2011.

Last one week high and low of the scrip stood at Rs. 49.50 and Rs. 46.10 respectively. The current market cap of the company is Rs. 2800.56 crore.

The promoters holding in the company stood at 78.95% while Institutions and Non-Institutions held 11.88% and 9.17% respectively.

Life Insurance Corporation of India (LIC) has purchased about 2.76 crore shares of Bank of Maharashtra. It has acquired 4.68% stake in the bank through market operations. After this purchase LIC’s stake in the bank has risen to 9.97%.

Recently, Bank of Maharashtra (BoM) has inked pact with Mahindra & Mahindra by signing a preferred financier agreement. As per the agreement M&M customers will get benefit from the vehicle finance services from any of the 1,589 branches of the bank.

Bank of Maharashtra Share Price

54.60 1.50 (2.82%)
20-Dec-2024 16:59 View Price Chart
Peers
Company Name CMP
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PNB 100.70
Union Bank Of India 116.60
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