Corporation Bank revises Authorised Capital of the Bank to Rs 3000 crores

Corporation Bank has announced that in accordance with Section 3 (2A) of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980, Government of India after consultation with Reserve Bank of India has increased the Authorised Capital of the Bank from the existing level of Rs. 1500/- crores to Rs. 3000/- crores vide its notification dated November 10, 2009, through official Gazette.

Board of Directors of the Bank, at its meeting held on December 29, 2009 has taken note of the direction for future guidance.

The Stock was trading at Rs.417.25, up by Rs.1.95 or 0.47%. The stock hit an intraday high of Rs.422 and low of Rs.417.10.

The total traded quantity was 2106 compared to 2 week average of 20272.

Source : Equity Bulls

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