Tuesday 14 January 2014

Syndicate Bank spurts on raising Rs 200 crore from GoI by preferential shares issue

Syndicate Bank is currently trading at Rs. 95.10, up by 1.55 points or 1.66 % from its previous closing of Rs. 93.55 on the BSE.

The scrip opened at Rs. 94.20 and has touched a high and low of Rs. 95.25 and Rs. 93.50 respectively. So far 44959 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 145.20 on 15-Jan-2013 and a 52 week low of Rs. 61.05 on 20-Aug-2013.

Last one week high and low of the scrip stood at Rs. 101.45 and Rs. 90.90 respectively. The current market cap of the company is Rs. 5924.19 crore.

The promoters holding in the company stood at 66.17% while Institutions and Non-Institutions held 20.89% and 12.94% respectively.

Public sector lender Syndicate Bank has raised Rs 200 crore from the Government of India (GoI) by issuing 22.63 million equity shares through preferential allotment to augment its capital in order to meet the requirements of Basel-II and Basel-III. The bank has received shareholders approval on January 10, 2013.

Further, the bank has allotted 22,634,676 equity shares of face value of Rs 10 each on January 13, 2013 for cash at a premium of Rs 78.36 determined in accordance with Regulation 76 (1) of SEBI (ICDR) Regulations aggregating to Rs 1,999,999,971.36.

Syndicate Bank has reported a rise of 1.46% in its net profit at Rs 470.12 crore for the quarter ended September 30, 2013 as compared to Rs 463.37 crore for the same quarter in the previous year. Total income of the bank increased by 6.69% at Rs 4850.35 crore for quarter under review as compared to Rs 4546.33 crore for the quarter ended September 30, 2012.

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