Allahabad Bank increases Authorised Capital to Rs 3000 crores

Allahabad Bank has announced that the Govt. of India on recommendation of Reserve Bank of India has issued a Notification dated November 10, 2009, increasing the Authorized Capital of the Nationalized Banks from existing Rs. 1500 crore to Rs. 3000 crore.

Accordingly, The Board of directors of the Bank in its meeting held on December 29, 2009 has taken note of the above and passed a resolution, increasing the Authorized Capital of the Bank from existing Rs. 1500 crore to Rs. 3000 crore.

The stock closed the day at Rs.126.10, down by Rs.1.10 or 0.86%. The stock hit an intraday high of Rs.128.40 and low of Rs.124.10.

The total traded quantity was 122802 compared to 2 week average of 112736.

Source : Equity Bulls

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