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Bank of Maharashtra gains on eyeing 25-30% growth in net profit in current financial year
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Bank Of Maharashtra is currently trading at Rs. 16.20, up by 0.15 points or 0.93% from its previous closing of Rs. 16.05 on the BSE.
The scrip opened at Rs. 16.30 and has touched a high and low of Rs. 16.30 and Rs. 16.10 respectively. So far 215271 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 31.95 on 07-Jun-2021 and a 52 week low of Rs. 15.40 on 12-May-2022.
Last one week high and low of the scrip stood at Rs. 16.45 and Rs. 15.55 respectively. The current market cap of the company is Rs. 10869.75 crore.
The promoters holding in the company stood at 90.97%, while Institutions and Non-Institutions held 3.87% and 5.17% respectively.
Bank of Maharashtra is eyeing a 25-30 percent growth in its net profit in the current financial year, aided by healthy growth in net interest income (NII) and a fall in provisions for bad assets. In the fiscal ended March 31, 2022, the Pune-based lender reported an over two-fold jump in its profit after tax (PAT) at Rs 1,152 crore, as against Rs 550 crore for the year ended March 2021.
Bank of Maharashtra offers several products and services in personal banking such as deposits, savings, personal loans, educational loans, demat services, credit cards, etc. The Bank also offers services to agricultural and SME sectors.
