Erasing its early gains, Corporation Bank today ended over 1 per cent down on the BSE amid profit-booking in an overall weak broader market.
The stock ended the day 1.22 per cent lower at Rs 40.35 on BSE. During the day, it had gained 2.44 per cent to Rs 41.85.
At NSE, shares of the company settled with a loss of 1.59 per cent at Rs 40.20.
Shares of Corporation Bank had gained earlier in the day as the company's board approved raising Rs 1,000 crore capital in multiple tranches.
In terms of volume, 1.11 lakh shares of the company changed hands at BSE and over 3 lakh shares were traded at NSE during the day.
Meanwhile, in the broader market the BSE Sensex fell by 170.62 points to end at 24,623.34.
"The Board of Directors...Have approved raising of capital of the bank to the extent of Rs 1,000 crore in one or more tranches with green shoe option if any by way of either issue and allotment of equity shares on preferential basis or by way of additional tier-I bonds or follow on public issue", the company had said in a BSE filing yesterday.
Besides, the bank can also opt the route of a rights issue or a qualified institutions placement or debt issue or any other method as per Basel III requirements, it added.
The bank is yet to determine the issue price for equity allotment.
