Allahabad Bank to consider preferential issue to LIC and Government of India on Feb 22, 2012

Allahabad Bank has announced with reference to the Board Meeting on Feb 22, 2012, that the Board of Directors of the Bank in its meeting scheduled to be held on February 22, 2012, may also consider issue of equity on preferential basis to Life Insurance Corporation of India/others besides issue of equity on preferential basis to Government of India.

The Allahabad Bank stock was trading at Rs.206.75, up by Rs.8.40 or 4.23%. The stock hit an intraday high of Rs.207.20 and low of Rs.200.60.

The total traded quantity was 1.92 lakhs compared to 2 week average of 1.86 lakhs.

Source : Equity Bulls

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