City Union Bank Share Price Jumps 4% as Lender Opens 3 New Branches in Tamil Nadu

City Union Bank’s share price (NSE: CUB) moved higher on November 24 after the private sector bank announced the opening of 3 new branches in Tamil Nadu. The stock climbed 3.71% to ₹272.5 during intraday trade on the NSE.

At 10:33 AM, shares were trading at ₹271.40, up 3.30% from the previous close of ₹262.73. The Nifty50 index, meanwhile, was up 0.22%.

City Union Bank Share Price Nears 52-Week High

Investor interest remained strong, with the stock now only 3.74% below its 52-week high of ₹283.09, hit on November 17. During the day, a total of 2.35 million shares worth ₹63.51 crore were traded across NSE and BSE.

As of November 17, the bank’s market capitalisation stood at ₹20,082.42 crore.

Details of the New Branches in Tamil Nadu

In its exchange filing, City Union Bank said it has added 3 new branches across different districts in Tamil Nadu:

• Kattathi, Pudukkottai District – Located on Main Road at M N S Kotteswaran Complex.
• Alambadi, Tiruchirapalli District – Positioned on Pullambadi to Thirumazhapadi Main Road.
• Veerankuppam, Tiruppatur District – Set up at Manjunatha Nagar near Maniyrakuppam X-Road.

These additions expand the bank’s presence and support customer access in semi-urban and rural regions.

Also Read: Adani Enterprises Rights Issue Set to Open on November 25: All You Need to Know!

Update on Employee Stock Option Scheme (ESOS)

City Union Bank also confirmed that its board has allotted 1,049,475 equity shares under its ESOS plan. With this allotment, the bank’s paid-up capital has increased from ₹74,10,48,842 to ₹74,20,98,317.

The approval was granted by the board’s Compensation and Remuneration Committee.

Conclusion

City Union Bank’s share price rose after the lender opened 3 new branches in Tamil Nadu and expanded its paid-up capital through ESOS allotments. 

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