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Andhra Bank rises on getting nod to amalgamate with Union Bank of India

Andhra Bank is currently trading at Rs. 19.45, up by 0.10 points or 0.52% from its previous closing of Rs. 19.35 on the BSE.

The scrip opened at Rs. 19.60 and has touched a high and low of Rs. 19.75 and Rs. 19.45 respectively. So far 14883 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 33.90 on 18-Sep-2018 and a 52 week low of Rs. 17.20 on 23-Aug-2019.

Last one week high and low of the scrip stood at Rs. 20.40 and Rs. 18.70 respectively. The current market cap of the company is Rs. 5819.75 crore.

The promoters holding in the company stood at 87.81%, while Institutions and Non-Institutions held 4.22% and 7.97% respectively.

Andhra Bank has received approval for the amalgamation of Andhra Bank and Corporation Bank with Union Bank of India as the Anchor Bank. The Board of Directors of the bank at its meeting held on September 13, 2019 has approved the same.

Andhra Bank offers a wide range of services such as Retail banking, Agriculture, MSME, Corporate, NRI services and Personal banking services etc.

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