Syndicate Bank is currently trading at Rs. 89.75, up by 0.90 points or 1.01% from its previous closing of Rs. 88.85 on the BSE.
The scrip opened at Rs. 89.95 and has touched a high and low of Rs. 90.60 and Rs. 89.05 respectively. So far 167292 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 145.20 on 15-Jan-2013 and a 52 week low of Rs. 61.05 on 20-Aug-2013.
Last one week high and low of the scrip stood at Rs. 90.60 and Rs. 83.15 respectively. The current market cap of the company is Rs. 5435.61 crore.
The promoters holding in the company stood at 66.17% while Institutions and Non-Institutions held 20.49% and 13.34% respectively.
Syndicate Bank, a state-run bank, has reportedly tied up with Maruti Suzuki, country's largest car manufacturer, to extend car loans to its clientele base of over 30 million. The bank has decided to reduce the rate of interest on loans for Maruti Suzuki's cars to base rate plus 0.15%, which at present stands at 10.40%.
Apart from this, the bank has also lowered the processing charges on car loans by 50% in order to extend the benefit to the prospective borrowers. The auto loans can be repaid in 84 months. Moreover, the bank is offering an option in which buyers can get a loan on the vehicle of up to 95% of the actual on-road price without having any guarantor. The offer is valid till January 15, 2014.
Syndicate Bank has reported a rise of 1.46% in its net profit at Rs 470.12 crore for the quarter ended September 30, 2013 as compared to Rs 463.37 crore for the same quarter in the previous year. Total income of the bank increased by 6.69% at Rs 4850.35 crore for quarter under review as compared to Rs 4546.33 crore for the quarter ended September 30, 2012.
| 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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