Skip to main content

Canara Bank shares rise over 7% on plan to raise Rs 2,000 cr via QIP

 Canara Bank share touched an intraday high of Rs 126.4, rising 7.53% against the previous close of Rs 117.55 on BSE

December 8, 2020 | Updated 12:45 IST
Canara Bank shares rise over 7% on plan to raise Rs 2,000 cr via QIP
Canara Bank share is trading higher than 5 days, 20 days, 50 days, 100 days and 200-day moving averages

MORE FROM THE AUTHOR

Canara Bank's share rose over 7% today after the private sector lender set a floor price of Rs 103.50 per share for its qualified institutional placement (QIP). The bank plans to raise up to Rs 2,000 crore through the share sale.

The stock has gained 17.46% in the last 4 days.  The share touched an intraday high of Rs 126.4, rising 7.53% against the previous close of Rs 117.55 on BSE.

Canara Bank share is trading higher than 5 days, 20 days, 50 days, 100 days and 200-day moving averages.  However, the share has lost 39.7% in one year and fallen 43.27% since the beginning of this year.

In a month, the share has gained 36.25%. The market cap of the firm rose to Rs 18,234 crore.

Share Market News Live: Sensex rises 100 points, Nifty hits 13,400 for the first time; Maruti, HDFC top gainers

The lender said on Monday it received shareholders' nod in its annual general meeting, held in August, for raising up to Rs 2,000 crore by way of QIP. The sub-committee of the board - Capital Planning Process of the bank, at its meeting held on December 7, authorized the opening of the QIP issue and approved the floor price of Rs 103.50 per equity share, Canara Bank said.

"A meeting of the sub-committee of the board-Capital Planning Process of the board of directors of the bank is scheduled to be held on Thursday, December 10, 2020, to consider and determine the issue price for the equity shares as well as the number of shares to be allotted to qualified institutional buyers, pursuant to the QIP," the bank said.

Shares of Canara Bank on Monday closed higher than its QIP floor price at Rs 117.55 apiece on the BSE, up 5.62 percent from its previous close.

Stocks in news: Titan, Canara Bank, Aurobindo Pharma, Alkem Labs, Goa Carbon, Reliance Capital

Canara Bank fixes floor price of Rs 103.50 per share for Rs 2,000 crore QIP

Labels:

Popular posts from this blog

Rajinikanth age 70 Ahead Of Party Launch

  AIADMK's O Panneerselvam and composer AR Rahman among early wishers. Chennai:  Tamil actor and aspiring politician Rajinikanth celebrates his 70th birthday today, only weeks ahead of the launch of his political party on December 31, making it a momentous occasion not merely for the movie icon but also for Tamil Nadu and Indian national politics. The veteran artist, born Shivaji Rao Gaekwad, had last week announced that he will launch his long-anticipated political party in January, five months before the Tamil Nadu election in 2021. This gives the actor's 70th birthday a whole new ring of excitement. His fans had begun assembling before his residence in Chennai this morning, holding banners and sporting T-shirts printed with his photographs. A number of them, especially those associated with the Rajini Makkal Manram, a forum of the star's fans, will be involved in charity work to mark the day like they do every year. Meanwhile, early this morning, Prime Minister Narendra ...
Read more

Supreme Court tells RBI "Extension of time given to borrowers not viable" Loan moratorium scheme

  Loan moratorium scheme: Extension of time given to borrowers not viable, RBI tells Supreme Court The central bank said it had already issued a framework on August 6 with the aim of facilitating the revival of real sector activities and helping borrowers. A worker walks past the logo of Reserve Bank of India inside its office in New Delhi. | Anushree Fadnavis/Reuters The  Reserve Bank of India  on Wednesday informed the Supreme Court that it was not viable to extend the loan moratorium period,  The Hindu  reported. A three-judge bench led by Justice Ashok Bhushan continued hearing pleas against the Reserve Bank of India’s decision to charge interest on term loans during the moratorium period announced due to the coronavirus pandemic. The pleas have been filed by industry, real estate and power sectors. Advocate V Giri, appearing for the central bank, referred to clause 3 of its August 6 circular for “resolution framework for Covid-19-related stress”, a debt res...
Read more

UEFA Euro 2020 Live Score, Turkey vs Wales Updates: Determined Turkey Face Unchanged Wales

  UEFA Euro 2020 Live Score, Turkey vs Wales Updates:  Wales are bracing for a hostile reception as they face Turkey in Baku. Wales is unchanged as Turkey made two changes from their previous game. Kaan Ayhan coming in for Merih Demiral and Cengiz Under replacing Yusuf Yazici. Italy can seal their place in the last-16 with victory against Switzerland after Aleksei Miranchuk   scored a beautiful goal to give   Russia the win against Finland at the  Saint Petersburg Stadium . Joel Pohjanpalo scored but a VAR check showed he was offside. Mario Fernandes was taken to the hospital after his fall as Russia confirmed a spinal injury. A goal in first-half stoppage time by Aleksei Miranchuk got Russia’s  Euro  2020  campaign back on track as they beat Finland 1-0 in Group B on Wednesday. Joel Pohjanpalo thought he had given the Finns the lead in the fifth minute but his powerful header was ruled out for offside after a VAR rev...
Read more