Bank of Maharashtra rises on introducing easy trade finance product

04 Jul 2012 Evaluate

Bank of Maharashtra is currently trading at Rs. 49.80, up by 0.15 points or 0.30% from its previous closing of Rs. 49.65 on the BSE.

The scrip opened at Rs. 50.25 and has touched a high and low of Rs. 50.25 and Rs. 49.75 respectively. So far 3,656 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 59.20 on 26-Jul-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. 50.30 and Rs. 48.50 respectively. The current market cap of the company is Rs. 2,936 crore.

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

Bank of Maharashtra has launched an easy trade finance product for traders and micro, small and medium enterprises (MSME) by seeing the demand for loans with minimum documentation. It aims to attract co-operative bank customers into its fold as traders and MSME promoters choose going to small banks as they offer hassle-free loans.

The bank is offering loans up to Rs 5 crore to MSMEs if they offer collateral which is 140% of the loan amount. It is charging lower rate of interest that is 14.5%, against the normal interest of 16.5%, due to security of the property.

Recently, Bank of Maharashtra (BoM) inked pact with Mahindra & Mahindra (M&M) 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
SBI 812.50
Bank Of Baroda 240.30
Canara Bank 99.65
PNB 100.70
Union Bank Of India 116.60
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