city union bank has announced it’s fund raising program by going ahead with a rights issue . The bank came up with a rights issue last in 2009 where it alloted shares in the ratio of 1:4 and at a price of rs 6 when the stock price was quoting at rs 26 . The bank seems to be minority shareholder friendly and is likely to announce favorable allotment ratio at attractive price . Also there might be a positive reaction by the stock on any such announcement . The board meeting is scheduled on 03 nov 2012.
Disc ; bought yest at cmp of 59