Meanwhile, the BSE Sensex was down 87.04 points, or 0.49% to 17,510.38.

On BSE, 80,000 shares were traded in the counter as against average daily volume of 6.76 lakh shares in the past one quarter.

The stock hit a high of Rs 92.85 and a low of Rs 91.30 so far during the day. The stock had hit a 52-week low of Rs 47.50 on 2 January 2012. The stock had hit a 52-week high of Rs 114 on 6 April 2011.

The stock had outperformed the market over the past one month till 3 April 2012, rising 2.31% compared with the Sensex's 0.22% fall. The scrip had also outperformed the market in past one quarter, surging 78.54% as against Sensex's 10.4% gain.

The state-run bank has an equity capital of Rs 350.06 crore. Face value per share is Rs 10.

The Dena Bank stock had rallied 7.24% in three trading sessions to settle at Rs 93.20 on Tuesday, 3 April 2012, from a recent low of Rs 86.90 on 29 March 2012, after the state-run bank after market hours on 29 March 2012 said it has allotted 1.66 crore equity shares at Rs 90.73 per share to Life Insurance Corporation of India (LIC) on preferential allotment basis for a total consideration of Rs 151.24 crore.

India's biggest institutional investor -- state run LIC-- had 6.17% stake in Dena Bank as at end December 2011.

Dena Bank's net profit rose 20.3% to Rs 186.68 crore on 27.8% growth in total income to Rs 1810.21 crore in Q3 December 2011 over Q3 December 2010.

The Government of India (GoI) holds 55.24% stake in Dena Bank.