City Union Bank is currently trading at Rs. 74.80, up by 1.60 points or 2.19% from its previous closing of Rs. 73.20 on the BSE.
The scrip opened at Rs. 74.10 and has touched a high and low of Rs. 75.00 and Rs. 74.05 respectively. So far 1,10,000 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 75.00 on 26-May-2014 and a 52 week low of Rs. 37.95 on 04-Sep-2013.
Last one week high and low of the scrip stood at Rs. 75.00 and Rs. 66.00 respectively. The current market cap of the company is Rs. 4,056.00 crore.
The Institutions and Non-Institutions held 29.98% and 70.02% respectively.
City Union Bank is hopeful of maintaining 20-25 percent CAGR in terms of growth with exception of aberrations in individual years depending on GDP growth of that particular year. This current year the bank expects as if the growth may be close to 15 percent or so, for FY14-15.
Recently, Reserve Bank of India (RBI) allowed foreign institutional investors to purchase up to 35% of the paid-up capital of the bank. The bank has passed resolutions at the board of directors' level and a special resolution by the shareholders, agreeing for enhancing the limit for the purchase of its equity shares and convertible debentures by Foreign Institutional Investors (FIIs).
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