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Dena Bank inches up on the buzz of its expansion plans

Dena Bank - (Amalgamated) | Bank - Public | BFSI | BSE: 532121 | NSE: DENABANK

14 Jan 2014 Evaluate

Dena Bank is currently trading at Rs. 60.65, up by 0.05 points or 0.08 % from its previous closing of Rs. 60.60 on the BSE.

The scrip opened at Rs. 60.50 and has touched a high and low of Rs. 61.40 and Rs. 60.00 respectively. So far 150232 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 125.00 on 16-Jan-2013 and a 52 week low of Rs. 41.85 on 28-Aug-2013.

Last one week high and low of the scrip stood at Rs. 63.50 and Rs. 60.00 respectively. The current market cap of the company is Rs. 2835.29 crore.

The promoters holding in the company stood at 66.57 % while Institutions and Non-Institutions held 12.75 % and 20.68 % respectively.

Public sector lender Dena Bank is reportedly planning to open 65 new branches by the end of current fiscal. These new branches will be opened across urban and rural areas and in all geographies. Earlier, the bank has planned to open 150-175 branches in current fiscal, out of which 90 branches have already been opened till December 2013.

Recently, the bank had received capital infusion of Rs 700 crore from the Government of India (GOI) towards issuance and allotment of equity shares on preferential basis. Post capital infusion, the paid-up capital share capital of the bank has increased from Rs 350.05 crore to Rs 468.64 crore and GOI’s holding in the bank has increased from 55.24% to 66.57%.

Dena Bank was established in 1938 and was nationalized in July 1969. As on September 30, 2013, the bank has 1,509 branches and 770 ATMs with 57% branches in rural and semi-urban areas. More than half of the bank’s branches are in the states of Gujarat and Maharashtra.

Dena Bank-(Amalgamat Share Price

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Peers

Company Name	CMP
SBI	1066.70
PNB	111.70
Canara Bank	140.10
Bank Of Baroda	276.00
Union Bank Of India	189.00
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Dena Bank inches up on the buzz of its expansion plans

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