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12-Feb2019

Corporation Bank surges on turning black in Q3

Corporation Bank is currently trading at Rs. 25.20, up by 0.50 points or 2.02% from its previous closing of Rs. 24.70 on the BSE.

The scrip opened at Rs. 25.00 and has touched a high and low of Rs. 25.60 and Rs. 24.85 respectively. So far 65360 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 37.30 on 12-Feb-2018 and a 52 week low of Rs. 21.00 on 11-Oct-2018.

Last one week high and low of the scrip stood at Rs. 26.40 and Rs. 24.50 respectively. The current market cap of the company is Rs. 6399.86 crore.

The promoters holding in the company stood at 86.77%, while Institutions and Non-Institutions held 10.67% and 2.56% respectively.

Corporation Bank  has reported a net profit of Rs 60.53 crore for the quarter ended December 31, 2018 under review against net loss of Rs 1,240.49 crore for the same quarter in the previous year. However, total income of the Bank decreased by 15.06% at Rs 4112.32 crore for Q3FY19 as compared Rs 4841.37 crore for the corresponding quarter previous year.

The Bank's gross NPA for the October-December quarter of the current fiscal increased to 17.36%, as compared to 15.92% in the same quarter of the previous year. Besides, Bank's Net NPA stood at 11.47% in Q3FY19.


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