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Andhra Bank gains on buzz of plan to open 500 new branches

19 Mar 2014 Evaluate

Andhra Bank is currently trading at Rs. 58.80, up by 0.15 points or 0.26 % from its previous closing of Rs. 58.65 on the BSE.

The scrip opened at Rs. 59.55 and has touched a high and low of Rs. 59.55 and Rs. 58.55 respectively. So far 84666 shares were traded on the counter.

The BSE group 'A ' stock of face value Rs. 10 has touched a 52 week high of Rs. 100.50 on 19-Mar-2013 and a 52 week low of Rs. 47.30 on 03-Sep-2013.

Last one week high and low of the scrip stood at Rs. 60.05 and Rs. 56.60 respectively. The current market cap of the company is Rs. 3478.73 crore.

The promoters holding in the company stood at 60.14 % while Institutions and Non-Institutions held 22.21 % and 17.65 % respectively.

Public sector lender, Andhra Bank is reportedly planning to open 500 new branches during 2014-15 across the country, out of which 15 branches will be opened in Andhra Bank.  Further, the bank has decided to open new branches in Andhra Pradesh on BC road and in Vizianagaram district by end of March 2014.

Meanwhile, the bank is also planning to open SME Express and Retail Express branches in Andhra Pradesh for speedy disposal of the proposals within seven days for retail loans and 15 days for SME loans.

Andhra Bank has reported 82.27% fall in its net profit at Rs 45.57 crore for third quarter ended December 31, 2013 as compared to Rs 257.09 crore for the same quarter in the previous year. However, total income of the bank has increased by 12.49% at Rs 3900.54 crore for quarter under review as compared to Rs 3467.57 crore for the quarter ended December 31, 2012.

Andhra Bank-Amalgama Share Price

15.55 0.00 (0.00%)
19-Mar-2020 18:01 View Price Chart
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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