Oriental Bank of Commerce rises on inking pact with Piaggio vehicles

Oriental Bank Of Commerce - (Amalgamated) | Bank - Public | BFSI | BSE: 500315 | NSE: ORIENTBANK

12 Sep 2012 Evaluate

Oriental Bank of Commerce is currently trading at Rs. 236.00, up by 2.05 points or 0.88% from its previous closing of Rs. 233.95 on the BSE.

The scrip opened at Rs. 234.90 and has touched a high and low of Rs. 237.05 and Rs. 234.90 respectively. So far 1,349 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 324.00 on 22-Feb-2012 and a 52 week low of Rs. 190.10 on 02-Jan-2012.

Last one week high and low of the scrip stood at Rs. 237.05 and Rs. 216.50 respectively. The current market cap of the company is Rs. 6,885 crore.

The promoters holding in the company stood at 58.00% while Institutions and Non-Institutions held 34.95% and 7.05% respectively.

Oriental Bank of Commerce (OBC) inked pact with Piaggio Vehicles, a manufacturer of small commercial vehicles to offer finance for Piaggio vehicles. As per the agreement, the bank will offer vehicle finance services from any of its 1,827 branches to Piaggio Vehicles’ customers.

Through this initiatives bank aims to expand its operations in commercial vehicle financing. The bank is planning to offer attractive schemes for financing commercial vehicles in terms of interest rates and margin norms for prospective buyers of Piaggio vehicles.

The bank has registered a rise of 10.35% in its net profit at Rs 391.42 crore for the quarter under review as compared to Rs 354.70 crore for the same quarter in the previous year. Total income of the bank increased by 19.77% at Rs 4695.57 crore for Q1FY13 as compared Rs 3920.36 crore for the corresponding quarter previous year.

Oriental Bank-Amalga Share Price

45.65 0.00 (0.00%)

20-Mar-2020 18:01 View Price Chart

Peers

Company Name	CMP
SBI	1095.60
PNB	110.15
Canara Bank	138.10
Bank Of Baroda	270.80
Union Bank Of India	168.70
View more..

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