Dhanlaxmi Bank Shares Scales Up Over 6% Post Strong Quarterly Earnings

Dhanlaxmi Bank Limited surged over 6% in the early morning trade on Wednesday, 17 May 2017 on the BSE after posting strong quarterly earnings.

As per its BSE filing on Tuesday, 16 May 2017 the company reported a net profit of Rs 8.8 crore for the quarter ended on 31st March 2017, as against a net loss of Rs 131.60 crore for the same quarter in the previous year.

Board of directors of the Bank has approved the allotment of 4,31,65,465 Equity Shares of Rs 10each at a price of Rs. 27.80 per Equity Share (including premium of Rs. 17.80 per Equity Share) on Preferential Allotment basis on May 15, 2017. The paid-up share capital of the Bank after the above allotment will be Rs. 253,01,20,840 with 25,30,12,084 Equity Shares of Rs. 10/- each, said the Bank.

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