Andhra Bank trades in green on the BSE

Andhra Bank is currently trading at Rs 77.25, up by 0.25 points or 0.32% from its previous closing of Rs 77.00 on the BSE.

The scrip opened at Rs 77.00 and has touched a high and low of Rs 77.50 and Rs 76.60 respectively. So far 8791 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 130.00 on 08-Jan-2013 and a 52 week low of Rs 76.20 on 17-Jul-2013.

Last one week high and low of the scrip stood at Rs 80.75 and Rs 76.20 respectively. The current market cap of the company is Rs 4308.77 crore.

The promoters holding in the company stood at 58.00% while Institutions and Non-Institutions held 25.64% and 16.35% respectively.

Andhra Bank has opened its fifth new generation branch under an initiative named ‘Project Navashakti’ in Hyderabad. The bank aims to open 250-300 such branches in about a year. These branches are for both customers, who can carry out transactions on their own in a spaciously designed 24/7 e-banking enclosure, as well as others who prefer to be guided. The bank aims to tap into the young customer segment that is tech savvy and prefer decongested and modern ambience.

The bank has registered 3.50% fall in its consolidated net profit at Rs 1284.54 crore in FY13 as against Rs 1331.18 crore in previous years. However, total income of the company has increased to Rs 14542.30 crore, up by 15.36% as compared to Rs 12605.76 crore in FY12.