Canara Bank approves 5:1 stock split

The Board of Directors of Canara Bank at it's meeting held today, i.e Monday, 26th February 2024, approved Sub-division / split of every one equity share of face value of Rs. 10/- (Rupees ten only) each, fully paid-up, into 5 (five) equity shares of face value of Rs. 2/- (Rupee two only) each, fully paid-up, subject to approval of the Reserve Bank of India.

The rationale behind the split is to improve the liquidity of the Bank's share and to make it affordable for retail investors and also to broaden the retail investors base.

Shares of Canara Bank was last trading in BSE at Rs. 572.80 as compared to the previous close of Rs. 580.00. The total number of shares traded during the day was 392290 in over 5317 trades.

The stock hit an intraday high of Rs. 584.65 and intraday low of 570.20. The net turnover during the day was Rs. 225582127.00.

Source : Equity Bulls

Keywords

CanaraBank INE476A01014 StockSplit SubDivision 5For1