Shares of Canara Bank rose 3% today in the morning trade after the company's board approved raising Rs4865cr through the issuance of shares on a preferential basis to the government. However, the stock erased morning gains and moved to the red zone.The bank is yet to seek shareholders' approval.The fundraising is part of the government's recapitalization program of Rs2.11trn through capital infusion in state-owned banks.
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