Union Bank of India to raise Rs. 1997 crore

The Board of Directors of Union Bank of India at its Meeting held on October 30, 2013, has approved the proposal for raising equity capital not exceeding Rs. 1997.00/- crore (One thousand nine hundred and ninety seven crores only) on preferential/QIP/Rights basis subject to approval of Govt. of India/RBI and various regulations and laws related thereto.

Shares of Union Bank of India was last trading in BSE at Rs.134.40, up by Rs.10.90 or 8.83%. The stock hit an intraday high of Rs.139.90 and low of Rs.122.10.

The total traded quantity was 45.02 lakhs as compared to 2 week average of 13.37 lakhs.

Source : Equity Bulls

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