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23-Apr2019

Syndicate Bank surges on entering into MoU with BEML

Syndicate Bank is currently trading at Rs. 39.85, up by 0.60 points or 1.53% from its previous closing of Rs. 39.25 on the BSE.

The scrip opened at Rs. 40.00 and has touched a high and low of Rs. 40.00 and Rs. 39.15 respectively. So far 148087 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 55.95 on 24-Apr-2018 and a 52 week low of Rs. 29.55 on 09-Oct-2018.

Last one week high and low of the scrip stood at Rs. 41.75 and Rs. 39.15 respectively. The current market cap of the company is Rs. 10654.38 crore.

The promoters holding in the company stood at 84.66%, while Institutions and Non-Institutions held 10.70% and 4.64% respectively.

Syndicate Bank and BEML have signed a memorandum of understanding (MoU) for financing Earth Moving & Construction Equipment manufactured by BEML. Under the MoU, BEML will nominate Syndicate Bank as a preferred financer for financing its customers. The customers under the tie-up arrangement will be provided loans in the range of Rs 20 lakh to Rs 300 lakh and preferential pricing by Syndicate Bank. Financing Equipment of BEML will be covered under 'SPECIAL' scheme of the Bank.

Syndicate Bank is one of the oldest and major commercial banks of India.


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