Andhra Bank is currently trading at Rs. 75.05, up by 3.15 points or 4.38% from its previous closing of Rs. 71.90 on the BSE.
The scrip opened at Rs. 73.50 and has touched a high and low of Rs. 75.30 and Rs. 73.50 respectively. So far 322978 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 110.00 on 05-Jun-2014 and a 52 week low of Rs. 52.40 on 29-Oct-2013.
Last one week high and low of the scrip stood at Rs. 75.30 and Rs. 65.20 respectively. The current market cap of the company is Rs. 4398.53 crore.
The promoters holding in the company stood at 60.14% while Institutions and Non-Institutions held 22.03% and 17.83% respectively.
Andhra Bank, a public sector lender, is planning to open 16 more branches in Kerala, including six in the Ernakulam district, as part of raising the total number of branches to 42 by March 2015. The bank at present has 2,100 branches pan India and would be opening at least 400 more branches by March 2015. Meanwhile, the bank has opened its new Zonal office at Kochi and a new branch with on site ATM at nearby Kadavanthra.
The bank’s net profit for first quarter ended June 30, 2014 declined by 53.74% at Rs 107.00 crore as compared to Rs 231.28 crore for the quarter ended June 30, 2013. However, the bank’s total income has increased by 9.14% to Rs 4205.06 crore for the quarter under review from Rs 3854.16 crore for the corresponding quarter of the previous year.
