Bank of Maharashtra down 2%; bad loans rise

The bank posted a net loss of Rs.119.84 crore for the fourth quarter ended March 2016 due to rise in bad loans.

Bank of Maharashtra stock was down by 2% at Rs.29. The bank posted a net loss of Rs 119.84 crore for the fourth quarter ended March 2016 due to rise in bad loans. Total income of the bank declined to Rs 3,566.68 crore in the January-March quarter, as against Rs 3,598.89 crore in the same period a year ago.

The scrip opened at Rs. 29 and has touched a high and low of Rs. 29.1 and Rs. 28.95 respectively. So far 8063(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3469.95 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 44.15 on 15-May-2015 and a 52 week low of Rs. 26.75 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 31.8 and Rs. 28.95 respectively.

The promoters holding in the company stood at 81.61 % while Institutions and Non-Institutions held 13.4 % and 4.99 % respectively.

The stock is currently trading below its 200 DMA.