Bank of Rajasthan bonus issue proposal

Bank of Rajasthan surged 5.88% to Rs 108 at 9:56 IST on BSE after the priavate sector bank scheduled a board meet on 31 May 2008 to consider issue of bonus shares.

The stock hit a high of Rs 115 and a low of Rs 105 so far during the day. The stock had a 52-week high of Rs 200 on 6 December 2007 and the stock hit a 52-week low of Rs 40.40 on 25 May 2007.

The bank’s current equity is Rs 134.46 crore. Face value per share is Rs 10.

The current price of Rs 108 discounts its Q3 December 2007 annualised EPS of Rs 12.54, by a PE multiple of 8.61.

Bank of Rajasthan’s net profit rose 112.7% to Rs 42.15 crore on 44.5% increase in operating profit to Rs 311.26 crore in Q3 December 2007 over Q3 December 2006.

The bank provides commercial banking and other related services. The services include banking operations and treasury operations.