Government to infuse additional Rs.378 crore in Allahabad Bank

Allahabad Bank has received a letter from Government of India, Ministry of Finance for infusing a sum of Rs.378 crores through preferential allotment of equity. This would raise the holding of Government of India to 58% and this amount is over and above the earlier planned infusion of Rs.292 crores. With this amount the total capital infusion by the Government of India will be Rs.670 crores (approx.).

The stock closed the day at Rs.207.35, up by Rs.0.05 or 0.02%. The stock hit an intraday high of Rs.209.45 and low of Rs.205.80.

The total traded quantity was 0.51 lakhs compared to 2 week average of 0.67 lakhs.

Source : Equity Bulls

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