Bank of Maharashtra shares crack over 7 pct, hit 52-week low
Meanwhile in a statement, Bank of Maharashtra said its exposure to D S Kulkarni Developers was around Rs 94.52 crore, which was fully secured.
Shares of Bank of Maharashtra continued to fall for the second straight session today, dropping over 7 per cent to hit a 52-week low, following the arrest of its serving and a former CMD in a cheating case.
The stock, after a weak opening, further fell 7.20 per cent to Rs 12.50 -- its 52-week low-- as the session progressed on BSE.
On NSE, stock of the company tumbled 7.11 per cent to hit its one-year low of Rs 12.40.
The Economic Offences Wing of Pune police yesterday arrested six people, including the serving and a former CMD of Bank of Maharashtra in a cheating case lodged against real estate developer D S Kulkarni and his wife, an official said.
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