Bank of Maharashtra (MAHABANK) witnessed a remarkable ascent on Wednesday, reaching a 52-week high following the release of a robust business update for the quarter ending September 30.
The stock experienced a surge of Rs 2.4, equivalent to 4.9 percent, propelling its value to Rs 51.9 apiece on the BSE. This surge marked a significant leap beyond the previous day’s 52-week peak.
Despite this surge, Bank of Maharashtra’s current status shows a minor decline of 1.31%, with the spot price resting at 48.85.
The bank disclosed in a regulatory filing, post-market hours on Tuesday, that its total business demonstrated an impressive growth of 22.8 percent on a year-on-year basis, reaching a provisional figure of Rs 4,22,419 crore for the July-September period. Furthermore, deposits exhibited a substantial increase of 22.2 percent, totaling Rs 2,39,306 crore.
