Government of India to infuse Rs.682 crores to Union Bank of India

Union Bank of India has announced with reference to the Extra Ordinary General Meeting for issue and allotment of equity shares to Government of India by way of preferential allotment of shareholders on March 29, 2011.

The Ministry of Finance, Government of India, vide their letter dated March 15, 2011 has informed that the Government of India has decided to infuse a sum of Rs. 682 crores (Rupees Six Hundred Eighty Two Crore only) in Union Bank of India by way of preference allotment of equity shares in favour of Government of India.

The stock was trading at Rs.329.80, down by Rs.3.70 or 1.11%. The stock hit an intraday high of Rs.335.80 and low of Rs.329.05.

The total traded quantity was 0.36 lakhs compared to 2 week average of 0.85 lakhs.

Source : Equity Bulls

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