Indian Bank appropriates accumulated losses of Rs.18,975.53 crore from Share Premium Account of the Bank

Pursuant to the passing of Special Resolution by shareholders of Indian Bank approving "Appropriation of accumulated losses of Rs.18,975.53 crore from Share Premium Account of the Bank" in the Extraordinary General Meeting (EGM) held on 30.11.2020, the Bank on date, with prior approval of Reserve Bank of India has passed the requisite accounting entries setting off accumulated losses of Rs.18,975.53 crore from Share Premium Account of the Bank.

Shares of INDIAN BANK was last trading in BSE at Rs.86.05 as compared to the previous close of Rs. 89.65. The total number of shares traded during the day was 545964 in over 5244 trades.

The stock hit an intraday high of Rs. 89.7 and intraday low of 84. The net turnover during the day was Rs. 46793515.

Source : Equity Bulls

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