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Corporation Bank climbs as Ashok Leyland’s JV inks MOU with it

16 Dec 2011 Evaluate

Corporation Bank is currently trading at Rs. 350.00, up by 1.85 points or 0.53% from its previous closing of Rs. 348.15 on the BSE.

The scrip opened at Rs. 350.80 and has touched a high and low of Rs. 354.50 and Rs. 348.05 respectively. So far 8979 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 673.00 on 22-Dec-2010 and a 52 week low of Rs. 341.15 on 15-Dec-2011.

Last one week high and low of the scrip stood at Rs. 354.50 and Rs. 341.15 respectively. The current market cap of the company is Rs. 5157.23 crore.

The promoters holding in the company stood at 58.52% while Institutions and Non-Institutions held 35.64% and 5.84% respectively.

Hinduja Group flagship company, Ashok Leyland’s JV - Ashok Leyland John Deere Construction Equipment Company has entered into a memorandum of understanding (MOU) with Corporation Bank. As per the MOU, the bank will offer the JV Company's customers finance at competitive terms.

With this MOU, it will help the bank to further enlarge its funding support to SME/priority sector customers as well as strengthen its bonds with the Ashok Leyland Group.

Ashok Leyland John Deere Construction Equipment Company is a JV between Ashok Leyland and John Deere Construction & Forestry Co, USA. Last month it had launched their first equipment vehicle - the 435 Backhoe Loader. Further, the company has commenced operations at their facility at Gummidipoondi in Thiruvallur district of Tamil Nadu with the manufacture of Backhoe Loaders.

Corp. Bank-Amalgamat Share Price

22.60 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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