Allahabad Bank stock rise 11% due to capital infusion

On Friday, shares of Allahabad Bank soared over 11 per cent on the Sensex. This happened after the company announced that it will receive funding of Rs 2,153 crore from the government in the current financial year. The stock scaled 10.98% to record a high of Rs 19.70 on BSE.
The Department of Financial Services communicated about fresh funding in a letter.  The state-owned bank stated about the new capital infusion fund of Rs 2,153....