Bank of India soars to all-time high on acquisition plan | india | Hindustan Times
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Bank of India soars to all-time high on acquisition plan

Bank of India's stock on Friday touched a 52-week high at Rs 225.40 on the BSE after signing the deal for acquiring a 76 per cent stake in PT Bank Swadesi, Indonesia.

india Updated: Jun 22, 2007 16:47 IST

Bank of India's stock on Friday touched a 52-week high at Rs 225.40 on the BSE after signing the deal for acquiring a 76 per cent stake in PT Bank Swadesi, Indonesia.

The scrip of the state-run lender closed 3.52 per cent up at Rs 223.75 at the end of trading hours.

Bank Swadesi is operating in Indonesia for the last 38 years and has 16 outlets. Bank Swadesi has a licence to Forex Business and is listed on the Jakarta Stock Exchange.

Rolta India slips despite raising funds, Rolta India's shares fell 6.17 per cent to Rs 461.45 on the BSE even after it raised over Rs 610 crore through a convertible bonds issue in international markets.

The specific IT solution provider raised 150 million dollars by issuing 1,500 foreign currency convertible bonds of 1,00,000 dollars each.
The bonds will be listed on the Singapore Stock Exchange.

Gayatri Projects advances on road contracts, Gayatri Projects' stock gained 1.14 per cent to Rs 301.05 on the BSE after it bagged two road construction orders worth Rs 880 crore, along with Maytas Infra.

Both the contracts won by the 50:50 Gayatri-Maytas consortium are for road construction in Andhra Pradesh.

The company is engaged in executing major civil works like construction of concrete, masonry dams, earthen dams, bridges and highways.