Bank of India approves raising Tier-1 capital by Rs. 1000 crore

The Board of Directors of Bank of India at its meeting held on October 31, 2013, have approved the raising of Tier-1 capital by issue of Fresh Equity Shares to the Government of India (Promoters) aggregating Rs. 1000 Crore (inclusive Premium amount), on preferential basis, subject to necessary approvals.

Shares of Bank of India was last trading in BSE at Rs.221.50, up by Rs.11.60 or 5.53%. The stock hit an intraday high of Rs.230.70 and low of Rs.209.30.

The total traded quantity was 40.47 lakhs as compared to 2 week average of 10.86 lakhs.

Source : Equity Bulls

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