Indian Bank in a meeting held receives its board of directors nod for raising Rs 1,100 crore through Basel-III complaint tier-II or additional tier-I bonds.
State-owned financial services provider Indian Bank in a meeting held receives its board of directors nod for raising Rs 1,100 crore through Basel-III complaint tier-II or additional tier-I bonds.
In a regulatory filing, the bank stated that the Board has earlier approved for raising Rs. 1,100 crore via Basel III complaint Tier II Bonds, but looking at the sluggish economic scenario.
Later the board granted approval to raise Basel III complaint Tier II of Additional Tier I Bonds for the same amount in one or more tranches in the current or subsequent years as per the requirement.
Stock News :
In a regulatory filing, the bank stated that the Board has earlier approved for raising Rs. 1,100 crore via Basel III complaint Tier II Bonds, but looking at the sluggish economic scenario.
Later the board granted approval to raise Basel III complaint Tier II of Additional Tier I Bonds for the same amount in one or more tranches in the current or subsequent years as per the requirement.
Stock News :
At 12.17, Indian Bank was trading at Rs. 100.15, up by Rs. 0.05 or 0.05% from its previous closing of Rs. 100.1 on the BSE.
The scrip opened at Rs. 99.4 and has touched a high and low of Rs. 100.15 and Rs. 97.85 respectively. So far 125108(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4807.72 crore.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 179.35 on 17-Mar-2015 and a 52 week low of Rs. 76 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs. 103.4 and Rs. 79.45 respectively.
The promoters holding in the company stood at 82.1 % while Institutions and Non-Institutions held 14.41 % and 3.48 % respectively.
The stock is currently trading below its 200 DMA.
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