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Syndicate Bank soars on raising Rs 1,000 crore through Lower Tier II bonds

31 Dec 2012 Evaluate

Syndicate Bank is currently trading at Rs. 129.10, up by 1.15 points or 0.90% from its previous closing of Rs. 127.95 on the BSE.

The scrip opened at Rs. 128.00 and has touched a high and low of Rs. 129.90 and Rs. 127.60 respectively. So far 17,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 136.50 on 11-Dec-2012 and a 52 week low of Rs. 67.45 on 30-Dec-2011.

Last one week high and low of the scrip stood at Rs. 129.80 and Rs. 127.05 respectively. The current market cap of the company is Rs. 7,771 crore.

The promoters holding in the company stood at 66.17% while Institutions and Non-Institutions held 21.21% and 12.63% respectively.

Manipal-based public sector lender Syndicate Bank has raised Tier II Capital to the extent of Rs 1,000 crore through issue of unsecured non-convertible sub-ordinate Lower Tier II bonds on December 28, 2012. The issue opened and closed on December 28, 2012 and was fully subscribed. The bond was priced at 9.00% per annum which is been payable annually.

Syndicate Bank has a network of 2,709 branches and 1,240 ATMs as on March 31, 2012. The bank has branches in all the states except Manipur and in all the Union Territories except Daman & Diu and Dadra & Nagar Haveli. It has got an international branch at London.

The bank has posted a rise of 43.48% in its net profit at Rs 463.37 crore for the quarter ended September 30, 2012 as compared to Rs 322.94 crore for the same quarter in the previous year. Total income has increased by 13.22% at Rs 4546.33 crore for quarter under review as compared to Rs 4015.64 crore for the quarter ended September 30, 2011.

Synd.Bank-Amalgamat Share Price

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