Bank of Maharashtra moves up on inking MoU with IREDA
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Bank of Maharashtra is currently trading at Rs. 46.86, up by 0.59 points or 1.28% from its previous closing of Rs. 46.27 on the BSE.
The scrip opened at Rs. 46.66 and has touched a high and low of Rs. 48.28 and Rs. 45.81 respectively. So far 2254750 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 51.48 on 18-Sep-2023 and a 52 week low of Rs. 16.95 on 29-Sep-2022.
Last one week high and low of the scrip stood at Rs. 51.48 and Rs. 43.85 respectively. The current market cap of the company is Rs. 33289.54 crore.
The promoters holding in the company stood at 86.46%, while Institutions and Non-Institutions held 7.11% and 6.43% respectively.
Bank of Maharashtra (BoM) has signed a significant Memorandum of Understanding (MoU) with Indian Renewable Energy Development Agency (IREDA). This collaboration aims to promote and facilitate co-lending and loan syndication for a diverse spectrum of Renewable Energy projects across the nation.
The MoU comprises several services including co-lending and co-origination support for all Renewable Energy projects, facilitating loan syndication and underwriting, management of Trust & Retention Account for IREDA borrowers, and a commitment to establishing stable fixed interest rates spanning a period of 3-4 years for IREDA borrowings. Under this agreement, Bank of Maharashtra can invest in the Bonds issued by IREDA in accordance with the specified terms and conditions of the offering.
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.
