Canara Bank’s Board of Directors on Monday approved the sub-division of its equity shares of Rs 10 into five shares with a face value of Rs 2 each. The move is aimed at improving liquidity in the bank’s shares and making it more affordable for retail investors along with broadening the retail investors’ base. The stock split of its fully paid-up equity shares will be subject to approval for the Reserve Bank of India (RBI).The announcement was made after market hours and the stock today ended at Rs 571.90 on the NSE, down 1%.The state-run bank expects to complete the stock split within 2-3 months from intimation of date of Board meeting on February 7, 2024 to the stock exchanges.The…
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canara bank stock split: Canara Bank board approves 1:5 stock split. Details here
