Allahabad Bank shares jump 11% on capital infusion

Shares of Allahabad Bank on Friday jumped 11 per cent after the company said it will get a fresh capital infusion of Rs 2,153 crore from the government in the current financial year.

The scrip climbed 10.98 per cent to Rs 19.70 on the BSE.

At NSE, it advanced 10.98 per cent to Rs 19.70. In terms of traded volume, 4.58 lakh shares of the company were traded on BSE and over 71 lakh shares on NSE during morning trade.

The Department of Financial Services in a letter on Thursday conveyed the sanction for release of the fresh capital infusion fund of Rs 2,153 crore, Allahabad Bank said in a regulatory filing.