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Corporation Bank jumps on reporting stellar Q4 numbers

08 May 2013 Evaluate

Corporation Bank is currently trading at Rs. 398.50, up by 21.45 points or 5.69% from its previous closing of Rs. 377.05 on the BSE.

The scrip opened at Rs. 380.00 and has touched a high and low of Rs. 401.80 and Rs. 377.00 respectively. So far 419001 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 494.85 on 07-Jan-2013 and a 52 week low of Rs. 362.05 on 30-Aug-2012.

Last one week high and low of the scrip stood at Rs. 388.25 and Rs. 373.50 respectively. The current market cap of the company is Rs. 6071.47 crore.

The promoters holding in the company stood at 59.82% while Institutions and Non-Institutions held 32.94% and 7.24% respectively.

Corporation Bank, public sector lender has reported results for the quarter ended March 31, 2013.

The bank has reported 1.2% rise in net profit at Rs 356 crore for the fourth quarter of 2013 against Rs 351.3 crore in corresponding quarter of last fiscal. The total income for the same period grew by 15.6% at Rs 4,635.49 crore against Rs 4009.17 crore corresponding quarter of last fiscal.

For the fiscal ended March 31, the bank reported a net profit of Rs 1,434.67 crore, recording a drop of 4.74% over the previous fiscal which was at Rs 1,506.04 crore. The drop in net profit was due to higher provisioning on account of wage revisions and asset quality. The total income of the bank recorded a growth of 16.76% at Rs 16,942.02 crore from Rs 14510.40 crore against corresponding fiscal.

The gross Non-Performing Assets (NPAs) stood at 1.72% and net NPAs stood at 1.19% at the end of fiscal year 2012-13. In absolute terms the gross NPAs stood at Rs 2,048.23 crore and net NPAs at Rs 1,410.88 crore.

Corp. Bank-Amalgamat Share Price

22.60 0.00 (0.00%)
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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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