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Allahabad Bank edges higher on govt raising authorised capital of bank to Rs 8,000 crore

24 Apr 2019 Evaluate

Allahabad Bank is currently trading at Rs. 49.35, up by 0.15 points or 0.30% from its previous closing of Rs. 49.20 on the BSE.

The scrip opened at Rs. 49.95 and has touched a high and low of Rs. 50.35 and Rs. 49.05 respectively. So far 115630 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 58.80 on 11-Mar-2019 and a 52 week low of Rs. 33.25 on 09-Oct-2018.

Last one week high and low of the scrip stood at Rs. 52.80 and Rs. 48.25 respectively. The current market cap of the company is Rs. 10410.79 crore.

The promoters holding in the company stood at 85.82%, while Institutions and Non-Institutions held 8.17% and 6.01% respectively.

Government has raised authorised capital of Allahabad Bank by Rs 5,000 crore to Rs 8,000 crore. The increase in authorised capital will help enable the bank to raise further fund up to a maximum ceiling of Rs 8,000 crore.

The central government after consultation with the Reserve Bank of India has increased the authorised capital of the bank from Rs 3,000 to Rs 8,000 through Gazette Notification.

Allahabad Bank is a nationalised bank with its headquarters in Kolkata. It is the oldest joint stock bank in India.

Allaha.Bank-Amalgama Share Price

15.15 0.00 (0.00%)
19-Mar-2020 18:01 View Price Chart
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