DCB to raise Rs 300 crore

Development Credit Bank Ltd (DCB) has announced that the Board of Directors of the Bank has decided to raise upto Rs 100 crores by Sub-Debt Tier II (Bonds) issue, upto Rs 100 crores by QIP route and upto Rs 200 crores by Rights Issue during a period of next 12 months, subject to securing appropriate regulatory and other approvals, as applicable.

The stock closed the day at Rs.35.20, up by Rs.0.60 or 1.73%. The stock hit an intraday high of Rs.35.90 and low of Rs.34.50.

The total traded quantity was 1281846 compared to 2 week average of 1685050.

Source : Equity Bulls

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