Oriental Bank of Commerce soars on issuing lower tier II bonds to raise Rs 1,200 crore

Oriental Bank Of Commerce - (Amalgamated) | Bank - Public | BFSI | BSE: 500315 | NSE: ORIENTBANK

20 Nov 2012 Evaluate

Oriental Bank of Commerce is currently trading at Rs. 318.10, up by 4.55 points or 1.45% from its previous closing of Rs. 313.55 on the BSE.

The scrip opened at Rs. 315.50 and has touched a high and low of Rs. 318.80 and Rs. 314.70 respectively. So far 10436 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 336.00 on 07-Nov-2012 and a 52 week low of Rs. 190.10 on 02-Jan-2012.

Last one week high and low of the scrip stood at Rs. 329.80 and Rs. 312.00 respectively. The current market cap of the company is Rs. 9215.28 crore.

The promoters holding in the company stood at 58.00% while Institutions and Non-Institutions held 34.92% and 7.08% respectively

In a bid to raise Rs 1,200 crore, Oriental Bank of Commerce has issued subordinated lower tier II bonds of Rs 10,00,000 each for cash at par aggregating Rs 1,000 crore with an option to retain oversubscription of upto Rs 200 crore is slated to open on November 21, 2012 and will close on November 27, 2012 and deemed date of allotment shall be November 30, 2012.

The bonds have been rated AA+ by ICRA and CARE and bear coupon rate of 8.93% p.a. with a tenor of 120 months.

The bank’s net profit for the quarter registering growth of 80.15% stood at Rs 302.19 crore as compared to Rs 167.74 crore for the similar quarter of the previous year. Bank’s total Income increased by 18.21% to Rs 4821.37 crore for the quarter under review against Rs 4078.48 crore for the corresponding quarter of the previous fiscal.

Oriental Bank-Amalga Share Price

45.65 0.00 (0.00%)

20-Mar-2020 18:01 View Price Chart

Peers

Company Name	CMP
SBI	1091.80
PNB	109.15
Canara Bank	135.95
Bank Of Baroda	270.35
Union Bank Of India	167.25
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