On Wednesday, Canara Bank shares gained as much as 5.57 per cent to clock 52-week high of 550.50 apiece, surpassing an earlier peak of Rs. 522.30, which had touched last week on NSE. The buying is buoyed in the counter after it was informed by the company on February 7 that the board is considering to split the stock on February 26.
“Notice is hereby given that a meeting of the Board of Directors of the Bank is scheduled to be held on Monday, 26th February 2024, to seek in principle approval from the Board of Directors for Sub-Division/Split of the Equity Shares of the Bank subject to prior approval of Reserve Bank of India (RBI) and other Statutory/Regulatory/Government of India approvals, as may be required,” read the PSU’s regulatory filing.
