Dhanlaxmi Bank shares scales up over 6% post strong quarterly earnings

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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.
 Stock view – 
 Dhanlaxmi Bank Ltd is currently trading at Rs 42.7, up by Rs 2.45 or 6.09% from its previous closing of Rs 40.25 on the BSE.
 The scrip opened at Rs 44.7 and has touched a high and low of Rs 44.7 and Rs 42 respectively. So far 6885976(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 844.63 crore.
 The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 42.5 on 04-May-2017 and a 52 week low of Rs 17.2 on 24-May-2016. Last one week high and low of the scrip stood at Rs 42.25 and Rs 38.5 respectively.
 The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 16.77 % and 83.23 % respectively.
 The stock is currently trading above its 50 DMA.
Dhanlaxmi Bank Ltd
BSE 42.55 2.30 (5.71%)
NSE 42.50 2.15 (5.33%)

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