OBC to Raise Tier II Capital

Oriental Bank of Commerce (OBC) has announced that the Bank intends to raise Tier II capital by issuing Lower Tier II Bonds on private placement basis not exceeding Rs 500 crore at an appropriate time.

The shares of the bank were trading at Rs.189, up by Rs.2.75 or 1.48% on volume of 25620 shares compared to 2 week average quantity of 94166 shares. The stock hit an intraday high of Rs.191.30 and low of Rs.187.10

Source : Equity Bulls

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