Corporation Bank surges 3%; LIC to infuse Rs. 143 cr in Corporation Bank

LIC will infuse Rs. 143 crore into the bank by way of preferential equity.

Corporation Bank is currently trading at Rs. 48.20, up by 1.45 points or 3.10% from its previous closing of Rs. 46.6 on the BSE.

LIC will infuse Rs 143 crore into the bank by way of preferential equity. 

The scrip opened at Rs. 48.15 and has touched a high and low of Rs. 48.15 and Rs. 48.15 respectively. So far 4603 shares were traded on the counter. The current market cap of the company is Rs. 3903.68 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 78.7 on 22-Jan-2015 and a 52 week low of Rs. 43.5 on 07-Sep-2015. Last one week high and low of the scrip stood at Rs. 47 and Rs. 44.2 respectively.

The promoters holding in the company stood at 63.33 % while Institutions and Non-Institutions held 29.37 % and 7.3 % respectively.

The stock is currently trading above its 200 DMA.