BoI to allot preferential shares to govt for ₹3,000cr capital infusion
Bank of India shares closed at ₹67.25 apiece on BSE, down 3.72% from the previous close.
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. Updated: 05 Apr 2021, 04:45 PM IST PTI
Bank of India today said it has convened an EGM of shareholders this month for seeking approval to the allotment of preferential shares to the government for ₹3,000 crore
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NEW DELHI :
State-run Bank of India on Monday said it has convened an extra-ordinary general meeting (EGM) of shareholders this month for seeking approval to the allotment of preferential shares to the government for ₹3,000 crore.
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NEW DELHI: S&P BSE MidCap index was trading with losses at 02:41PM (IST) on Friday. Shares of
Bank of India (down 9.99 per cent), LIC Housing Finance (down 6.5 per cent), Apollo Hospitals Enterprises (down 6.23 per cent), Bharat Heavy Electricals (down 6.04 per cent) and Aditya Birla Capital Ltd (down 6.02 per cent) were the top losers in the index. While The New Indian Assurance (up 11.94 per cent), IDFC First Bank (up 7.31 per cent), Natco Pharma (up 2.95 per cent), Crisil (up 2.4 per cent) and Aditya Birla Fashion & Retail (up 1.65 per cent) were among the top gainers. The S&P BSE MidCap index was trading 1.85 per cent down at 19998.66 around 02:41PM.
Government is considering mid-sized to small banks for its first round of privatisation.
Shares of Indian Overseas Bank, Bank of India, Central Bank of India and Bank of Maharashtra rallied as much as 20 per cent on report that the government has shortlisted four mid-sized state-run banks for privatisation. The four banks on the shortlist are Bank of Maharashtra, Bank of India, Indian Overseas Bank and the Central Bank of India, news agency Reuters reported citing sources.
Following this report, Indian Overseas Bank stock price rose by its daily maximum limit of 20 per cent to hit an intraday high of Rs 13.20. Central Bank of India advanced 15.6 per cent to hit high of Rs 16.12, Bank of India climbed 15 per cent to hit fresh 52-week high of Rs 67.70 and Bank of Maharshtra rallied 20 per cent to hit a high of Rs 19.10.