Dhanlaxmi Bank gains on entering into agreement with New Street Technologies

Dhanlaxmi Bank is currently trading at Rs. 12.37, up by 0.06 points or 0.49% from its previous closing of Rs. 12.31 on the BSE.

The scrip opened at Rs. 12.40 and has touched a high and low of Rs. 12.40 and Rs. 12.16 respectively. So far 11903 shares were traded on the counter.

Dhanlaxmi Bank
Dhanlaxmi Bank

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 18.10 on 17-Sep-2021 and a 52 week low of Rs. 10.50 on 16-Jun-2022.

Last one week high and low of the scrip stood at Rs. 12.80 and Rs. 11.97 respectively. The current market cap of the company is Rs. 309.69 crore.

The Institutions and Non-Institutions holding in the company stood at 11.50% and 88.50% respectively.

Dhanlaxmi Bank has entered into an agreement with its first fintech partner, New Street Technologies, for Micro Lending, Operations Management and Technology Services under priority sector lending.

New Street Technologies will provide the technical support to the Bank on Digital-on boarding and extend support as the business correspondent in Micro-lending space to start the operations in southern states of India and subsequently expand to more states.

Dhanlaxmi Bank was incorporated in 1927 by group of entrepreneurs at Thrissur located in Kerala. Bank’s focus has always been on customizing services and personalizing relations.

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