The Board of Directors of Indian Bank, in its meeting held on September 18, 2019, has considered and given its in-principle approval for the amalgamation of Allahabad Bank into Indian Bank subject to all necessary approvals.
The board also approved the Capital Infusion of upto Rs.5,000 crore (Rupees five thousand crore only) by Government of India through preferential allotment to Government of India subject to necessary regulatory approvals.
Shares of INDIAN BANK was last trading in BSE at Rs.158.3 as compared to the previous close of Rs. 159.15. The total number of shares traded during the day was 35642 in over 668 trades.
The stock hit an intraday high of Rs. 162 and intraday low of 157.75. The net turnover during the day was Rs. 5703261.