Bank of Maharashtra announced that the base rate of the bank is increased by 15 bps from 10.25% p.a. to 10.40% p.a. on monthly compounding basis, with effect from Apr. 21, 2014.

The stock had underperformed the market over the past one month till Apr. 15, 2014, falling 12.11% compared with the Sensex's 3.10% rise.

It underperformed the market in past one quarter, gaining 4.71% as against 5.62% rise in the Sensex.

Shares of the bank declined Rs 1.05, or 2.73%, to settle at Rs 37.45. The total volume of shares traded was 58,611 at the BSE (Wednesday).