Canara Bank to raise funds through QIP mode or preferential allotment

The Board of Directors of Canara Bank, in its meeting held on April 28, 2014, discussed about the various options of raising capital on account of Basel III guidelines & also to fund the general business needs of the Bank and decided to raise funds through QIP Mode or through Preferential Allotment during the current financial year.

The Board has constituted a Committee of Directors to decide on the modalities of the cited two options.

Shares of CANARA BANK was last trading in BSE at Rs.294.7 as compared to the previous close of Rs. 286.8. The total number of shares traded during the day was 491426 in over 13336 trades.

The stock hit an intraday high of Rs. 296.45 and intraday low of 282. The net turnover during the day was Rs. 142100989.

Source : Equity Bulls

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