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State Bank of Bikaner & Jaipur rose by over 5 per cent in early trade on the BSE today after the bank said its board will meet on March 7, 2011, to decide on the pricing of a proposed Rs 800 crore rights issue.
The news lifted shares of the company by 5.3 per cent to an early high of Rs 624.40 on the Bombay Stock Exchange (BSE).
Buying was also seen at the company’s counter on the National Stock Exchange, where the stock advanced by 5.76 per cent to an early peak of Rs 623.50.
In a filing to the stock exchange, the company had yesterday announced that its board of directors will meet on March 7 to take a decision on the pricing of the Rs 800-crore rights issue, along with a decision on its opening and closing date.
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