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Allahabad Bank surges on the buzz of Government planning to infuse Rs 320 crore

13 Feb 2015 Evaluate

Allahabad Bank is currently trading at Rs. 110.85, up by 2.30 points or 2.12% from its previous closing of Rs. 108.55 on the BSE.

The scrip opened at Rs. 109.35 and has touched a high and low of Rs. 111.35 and Rs. 108.95 respectively. So far 137030 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 150.00 on 11-Jun-2014 and a 52 week low of Rs. 72.45 on 17-Feb-2014.

Last one week high and low of the scrip stood at Rs. 111.35 and Rs. 103.75 respectively. The current market cap of the company is Rs. 6045.16 crore.

The promoters holding in the company stood at 58.90% while Institutions and Non-Institutions held 27.97% and 13.13% respectively.

Government of India (GoI) has reportedly decided to infuse capital funds to the tune of Rs 320 crore in the Allahabad Bank by way of preferential allotment of equity in favour of the GoI. The Bank is taking all necessary steps / approvals in this regard.

Allahabad Bank has registered a fall of 49.56% in its net profit at Rs 164.11 crore for third quarter ended December 31, 2014 as compared to Rs 325.36 crore for the same quarter in the previous year. However, total income of the bank increased marginally by 1.51% at Rs 5386.79 crore for Q3FY15 as compared Rs 5306.74 crore for the corresponding quarter previous year.

 

Allaha.Bank-Amalgama Share Price

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