Corporation Bank, a Mangalore-based public sector lender, announced reduction in the base rate for lending from 10.25% p.a. to 10.00% p.a. The reduction in the base rate will be effective effect from Jun. 1, 2015.

Shares of Corporation Bank are trading at Rs 55.50, up Rs 0.25, or 0.45% at the Bombay Stock Exchange (BSE) on Tuesday at 2:20 p.m. The scrip has touched an intra-day high of Rs 56.00 and low of Rs 55.05.

Total volume of shares traded on the bourses today was higher by 6.36% to 102,360 compared with 22-day average volume of 96,235.

In the earlier session, the shares fell 2.81%, or Rs 1.6, at Rs 55.25.