Bank of India to raise fresh capital

The Board of Directors of Bank of India at its meeting held on May 25, 2011, has approved the proposal to raise capital by issue Upto 18,00,00,000 fresh equity shares for of Rs. 10/- each at an appropriate premium through Right Issue / Follow on Public Issue / Qualified Institutional Placement / Depository Receipts or by any other mode as permitted and at a appropriate time, subject to obtaining all necessary approvals.

The stock closed the day at Rs.428.30, up by Rs.6.25 or 1.48%. The stock hit an intraday high of Rs.437.75 and low of Rs.421.80.

The total traded quantity was 4.49 lakhs compared to 2 week average of 1.57 lakhs.

Source : Equity Bulls

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