City Union Bank rose 0.89% to Rs 102 at 9:17 IST on BSE after the bank said its board will meet on 22 June 2015, to consider seeking shareholders' nod for passing an enabling resolution to raise capital through QIP route during the forthcoming AGM.
The announcement was made after market hours yesterday, 17 June 2015.
Meanwhile, the S&P BSE Sensex was up 120.27 points or 0.45% at 26,952.93.
On BSE, so far 2,150 shares were traded in the counter as against average daily volume of 4.40 lakh shares in the past two weeks.
The stock hit a high of Rs 102.55 and a low of Rs 102 so far during the day.
City Union Bank said that the board of directors of the bank, at its meeting to be held on 22 June 2015, will inter-alia consider an agenda item to seek shareholders approval for passing an enabling resolution to raise capital through qualified institutional placement (QIP) route during the forthcoming Annual General Meeting subject to applicable laws, Rules and Regulations including the guidelines issued by SEBI and RBI. The bank has raised capital through QIP issue during July 2014.
City Union Bank's net profit rose 18.9% to Rs 99.08 crore on 11.6% growth in total income to Rs 804.53 crore in Q4 March 2015 over Q4 March 2014.
City Union Bank is a private sector bank.
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