Technical analyst at Choice Broking expect CUB and LTF to rally up to ₹315 and ₹320 levels in the near-term; whereas Elara Capital projects a medium-term target levels.
City Union Bank has reported 25% Y-o-Y rise in Q4 net profit to ₹360 crore. Besides, City Union Bank has declared a dividend of 200% and recommended a bonus issue in 1:3 ratio.
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Electronics India and Billionbrains Garage Ventures (Groww) were the top losers from the Nifty Midcap 100, falling up to 6 per cent each.
Despite the near-term volatility, ICICI Direct said that markets have historically bounced back after geopolitical shocks
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In the past three months, City Union Bank shares have rallied 40 per cent, as compared to a 4.7-per cent rise in the BSE Sensex
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)