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Syndicate Bank slips on reporting 75% fall in Q2 net profit

27 Oct 2016 Evaluate

Syndicate Bank is currently trading at Rs. 72.75, down by 1.10 points or 1.49% from its previous closing of Rs. 73.85 on the BSE.

The scrip opened at Rs. 73.90 and has touched a high and low of Rs. 74.70 and Rs. 72.75 respectively. So far 1,45,599 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 97.20 on 28-Oct-2015 and a 52 week low of Rs. 49.40 on 17-Feb-2016.

Last one week high and low of the scrip stood at Rs. 79.40 and Rs. 72.75 respectively. The current market cap of the company is Rs. 6,652.89 crore.

The promoters holding in the company stood at 72.92%, while Institutions and Non-Institutions held 16.70% and 10.38% respectively.

The Bank has reported 75.20% fall in its net profit at Rs 82.42 crore for second quarter ended September 30, 2016 as compared to Rs 332.37 crore for the same quarter in the previous year. Total income of the Bank decreased by 1.43% at Rs 6574.93 crore for the quarter under review as compared Rs 6670.19 crore for the corresponding quarter previous year.   

The Bank’s gross NPA for the July-September quarter of the current fiscal increased sharply to 7.72% as compared to 3.72% in the same quarter of the previous year. Besides, Bank’s Net NPA stood at 5.03% in Q2FY17.


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