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Meanwhile, the BSE Sensex was down 37.31 points, or 0.2% to 18,391.30. On BSE, 1.50 lakh shares were traded in the counter as against average daily volume of 1.13 lakh shares over the past one quarter. The stock hit a high of Rs 119 and a low of Rs 105.55 so far during the day. The stock had hit a 52-week high of Rs 164.20 on 2 May 2011. The stock had hit a 52-week low of Rs 72.85 on 2 January 2012. The mid-cap stock had outperformed the market over the past one month till 21 February 2012, rising 26.69% compared with the Sensex's 10.09% gain. The scrip had also outperformed the market in past one quarter, surging 18.49% as against Sensex's 15.57% gain. The state-run bank has an equity capital of Rs 618.75 crore. Face value per share is Rs 10. The Indian Overseas Bank (IOB) stock had surged 12.6% in five trading sessions to settle at Rs 109.90 on Tuesday, 21 February 2012, from a recent low of Rs 97.60 on 13 February 2012. IOB said during trading hours today, 22 February 2012, that the Committee of Directors for preferential issue of shares met on Tuesday, 21 February 2012 and has fixed the price at Rs 97.82 per equity share (including premium of Rs 87.82) and determined the number of shares (up to 17.12 crore) to be allotted to Government of India (GoI) on their capital contribution of up to Rs 1675 crore. GoI currently holds 65.87% stake in IOB. The Committee of Directors also fixed the price at Rs 97.82 per equity share (including premium of Rs 87.82) and determined the number of shares (up to 3.09 crore, being 5% of pre-issue capital) to be allotted to Life Insurance Corporation of India (LIC) on preferential basis on their capital contribution of up to Rs 302.63 crore. Further, the state-run bank said that the number of shares to be allotted both to GoI and LIC and its various schemes will vary according to the capital contribution from GoI and LIC and its various schemes respectively within the overall ceiling fixed above. IOB's net profit fell 53.3% to Rs 108.27 crore on 45.3% growth in total income to Rs 5015.33 crore in Q3 December 2011 over Q3 December 2010. Powered by Capital Market - Live News
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