City Union Bank opens 3 new branches in Tamil Nadu, stock gains 4%; details

The private sector lender has also informed that its board has allotted 1,049,475 equity shares under the City Union Bank Employees Stock Option Scheme (ESOS)

City Union Bank Share Price Today: Shares of private sector lender City Union Bank were trading higher on the stock exchanges on Monday, November 24, following the bank’s announcement that it had opened three new branches in Tamil Nadu. The bank's stock price rose 3.71 per cent to ₹272.5 per share on the NSE during intraday deals on Monday.

 

The City Union Bank stock is now merely 3.74 per cent shy of its 52-week high of ₹283.09 per share, which was touched last Monday, November 17. Investor demand for the counter continues. At 10:33 AM, City Union Bank shares were quoted at ₹271.40, up 3.30 percent from the previous close of ₹262.73 on the NSE. Meanwhile, the benchmark Nifty50 was trading at 26,125.75, up 57.60 points or 0.22 per cent from its previous close.

 

During the day, a combined 2.35 million equity shares of the bank, worth ₹63.51 crore, changed hands on the NSE and BSE. The City Union Bank's market capitalisation, as of November 17, stood at ₹20,082.42 crore on the NSE.  FOLLOW STOCK MARKET LATEST UPDATES LIVE

City Union Bank opens 3 new branches in Tamil Nadu

According to the exchange filing submitted by the bank, it has opened a branch in Kattathi, Pudukkottai District, at M N S Kotteswaran Complex, D.No. L8511, 2, 3, 4, Main Road, Kattathi - 614615, Karambakudi, Tamil Nadu.  In Alambadi, Tiruchirapalli District, the bank has opened a branch at Door No. 2145, Pullambadi to Thirumazhapadi Main Road, Alambadi - 621722, Mettur, Lalgudi Taluk, Tamil Nadu.  In Veerankuppam, Tiruppatur District, the bank has opened a branch at New S.No. L46|LC2AL, Manjunatha Nagar, Maniyrakuppam X-Road, Veerankuppam - 635802, Kumaramangalam (Post), Ambur Taluk, Tamil Nadu.  ALSO READ | IndiGo gains 2%, airline stock price nears 3-month high; here's why

City Union Bank announces update on ESOS

In continuation, the bank also informed that its board has allotted 1,049,475 equity shares under the City Union Bank Employees Stock Option Scheme (ESOS).  "The paid-up capital of the bank has accordingly increased from ₹74,10,48,842 to ₹74,20,98,317. The subject matter was approved by the Compensation and Remuneration Committee (CRC) of the Board at its meeting held today," the City Union Bank said in its regulatory filing.