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Dena Bank advances on plan of selling around Rs 500 crore NPAs to ARCs in Q4

05 Dec 2014 Evaluate

Dena Bank is currently trading at Rs. 62.20, up by 0.60 points or 0.97% from its previous closing of Rs. 61.60 on the BSE.

The scrip opened at Rs. 62.15 and has touched a high and low of Rs. 63.10 and Rs. 62.05 respectively. So far 124594 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 94.40 on 09-Jun-2014 and a 52 week low of Rs. 51.10 on 26-Feb-2014.

Last one week high and low of the scrip stood at Rs. 62.70 and Rs. 58.75 respectively. The current market cap of the company is Rs. 3350.60 crore.

The promoters holding in the company stood at 58.01 % while Institutions and Non-Institutions held 24.13 % and 17.87 % respectively.

State-run lender, Dena Bank  is planning to sell Rs 400-500 crore of bad loans to asset reconstruction companies (ARCs) in the last quarter of the current financial year. The bank has already started the process and has identified which NPAs will be sold. So far in this fiscal, the bank did not sell any of its stressed assets to ARCs.

The bank has registered 51.96% fall in its net profit at Rs 51.58 crore for the quarter under review as compared to Rs 107.38 crore for the same quarter in the previous year. However, total income of the bank has increased 10.97% at Rs 2885.22 crore for Q2FY15 as compared Rs 2599.94 crore for the corresponding quarter previous year.

Gross non-performing assets (NPAs) increased to 5.12% in the July-September quarter as against 3% in the same quarter previous year, while net NPAs stood to 3.59%.

Peers
Company Name CMP
SBI 1080.35
PNB 114.50
Canara Bank 142.35
Bank Of Baroda 280.00
Union Bank Of India 188.90
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