Union Bank of India to raise Rs.100 crore

The Board of Directors of Union Bank of India at its meeting held on January 30, 2013 has approved the proposal for raising equity capital up to Rs.1,000/- crore on preferential/QIP/Rights basis towards capital infusion in addition to Rs.1,500/- crore approved in Board Meeting held on December 27, 2012 i.e. total equity infusion of Rs.2,500/-crore subject to approval of Govt. of india/RBI and various regulations and laws related thereto.

The Union Bank of India stock closed the day at Rs.241.10, down by Rs.7.90 or 3.17%. The stock hit an intraday high of Rs.252 and low of Rs.240.

The total traded quantity was 3.26 lakhs compared to 2 week average of 2.18 lakhs.

Source : Equity Bulls

Keywords