BoM shares zoom up 6.7% after Q3 business update

The shares of Bank of Maharashtra, a state-owned public-sector bank (PSB), climbed 6.71% to a day’s high of ₹56.30 per share on Friday, after the release of its Q3FY25 (October 2024 to December 2024) business update.

In the Q3 business update, the bank reported that its gross advances rose by 21.19% to ₹2,28,652 crores versus ₹1,88,670 crores seen in the same quarter last year. The current account savings account (CASA) deposits increased by 11.5% on a yearly basis to ₹1,37,504 crores as against ₹1,23,322 crores.

The state-owned bank’s total deposits added 13.54% year-on-year to ₹2,79,018 crores as compared to ₹2,45,734 crores last year. Its total business rose 16.87%to ₹5,07,670 crore as compared to ₹4,34,404 crore a year ago.

At close on Friday, the shares of Bank of Maharashtra were at ₹55.13 per share, 4.49% higher than the previous close of ₹52.76 per share.