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Canara bank stock split: Canara Bank an Indian public sector bank, has declared its record date for the purpose of stock split. On Friday, April 19, the PSU bank informed the same via an exchange filing. The company has fixed Wednesday, 15th May 2024, as the record date for the aforementioned corporate action.
The public lender stated in its exchange that the purpose of determining the entitlement of equity shareholders is to subdivide or split the bank’s existing equity shares. Specifically, one equity share, with a face value of ₹10 and full payment, will be divided into five equity shares, each with a face value of ₹2.
In order to improve the liquidity of the bank’s shares and make them more accessible for retail investors, the public lender announced in February that the board had approved a stock split.
The Canara Bank share price was trading 0.95% lower at ₹578 apiece on BSE. According to Rajesh Bhosale, Equity Technical and Derivative Analyst, Angel One, there is no major traction in this counter but it has bounced from lower levels along with broader markets. Today’s bounce is from the key support of 50 ema, and 560 may continue to act as support, whereas 600 is likely to be resistance.
(more to come)
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Published: 19 Apr 2024, 01:04 PM IST
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