Bank of Maharashtra jumps on launching its private cloud platform

Bank of Maharashtra jumps on launching its private cloud platform

by 5paisa Research Team Last Updated: Mar 23, 2023 - 11:59 am 299 Views

Today, the stock opened at Rs 25.35 and touched a high and low of Rs. 25.35 and Rs. 24.57, respectively.

On Tuesday, the shares of Bank of Maharashtra closed at Rs 24.91, up by 0.41 points or 1.67% from its previous closing of Rs 24.50 on the BSE. 

Launch of ‘Mahabank Nakshatra’  

Bank of Maharashtra (BoM) has embarked on its footprint in the adoption of Private Cloud Infrastructure by launching ‘Mahabank Nakshatra’ - Bank’s own Private Cloud Platform. This facilitates High-Performance Cloud Capabilities for Digital Infrastructure and hosting applications of the Bank. 

Nakshatra - BoM’s Private Cloud and Virtualization Technology, is built to host double the existing applications. It provides super flexibility, scalability, enhanced security and modern infrastructure for hosting its digital applications. Nakshatra is sized for 2X Computation & 3X storage with all Flash vSAN Storage with NSX-T with higher speed and is augmented to cater bank’s digital journey workload for the next 3 years. 

Stock price movement  

Today, the stock opened at Rs 25.35 and touched a high and low of Rs 25.35 and Rs 24.57, respectively. The BSE group 'A' stock of face value of Rs 10 has touched a 52-week high and low of Rs 36.25 and Rs 15, respectively. Last one week high and low of the scrip stood at Rs 25.70 and Rs 23.85, respectively. The current market cap of the company is Rs 16684.90 crore. 

The promoters holding in the company stood at 90.97%, while Institutions and Non-Institutions held 3.54% and 5.49% respectively.

Company Profile 

Bank of Maharashtra offers several products and services in personal banking such as deposits, savings, personal loans, educational loans, demat services, credit cards, etc. The Bank also offers services to agricultural and SME sectors. The bank is based in Pune and has 2128 branches across India. GoI owns 90.97 per cent of the bank as of December 31, 2022.


How do you rate this article?

or

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.

Disclaimer

Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.

Open Free Demat Account

Resend OTP
Please Enter OTP
Account belongs to

By proceeding, you agree to the T&C.

Latest News
Sahana Systems IPO GMP (Grey Market Premium)

Sahana Systems IPO worth ₹32.74 crore comprises entirely of a fresh issue of shares by the company. The price band has been fixed in the range of ₹132 to ₹135.

  • Jun 08, 2023
Infollion Research Services has bumper listing at 155% premium

Infollion Research Services Ltd had a bumper listing on 08th June 2023, listing at a sharp premium of 154.88%, but subsequently gave up some of the bumper gains towards the close of trade as the markets also wobbled in the second half of the trading day.

  • Jun 08, 2023
Three Interesting NFOs expected in June

New fund offerings (NFOs) are a regular offering from the various mutual fund houses. In the last few months, the practice of companies tapping the Indian investors through NFOs has picked up once again.

  • Jun 08, 2023

Start Investing Now!

Open Free Demat Account in 5 mins

Enter Valid Mobile Number