CORPORATION BANK Surges by 10%; BSE BANKEX Index Up 0.4%

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CORPORATION BANK Surges by 10%; BSE BANKEX Index Up 0.4%
Fri, 15 Nov 09:25 AM

CORPORATION BANK share price has zoomed 10% and is presently trading at Rs 17.

Meanwhile, the BSE BANKEX Index is at 35,052 (up 0.4%).

Among the top Gainers in the BSE BANKEX Index today is CORPORATION BANK (up 9.6%).

CITY UNION BANK (down 0.1%) and AXIS BANK (down 0.1%) are among the top losers today.

Over the last one year, CORPORATION BANK has moved down from Rs 28 to Rs 17, registering a loss of Rs 10 (down 38.0%).

On the other hand, the BSE BANKEX has moved up from 29,299 to 35,052, registering a gain of 5,753 points (up 19.4%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were KOTAK MAHINDRA BANK (up 42.9%), ICICI BANK (up 35.7%) and HDFC BANK (up 30.7%).

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What About the Benchmark Indices?

The BSE Sensex is at 40,472 (up 0.3%).

The top gainers among the BSE Sensex stocks today are TATA MOTORS DVR (up 2.3%), SBI (up 1.8%) and TATA MOTORS (up 1.8%). Other gainers include BHARTI AIRTEL (up 1.4%) and ONGC (up 1.3%). The most traded stocks in the BSE Sensex are YES BANK and BHARTI AIRTEL.

In the meantime, NSE Nifty is at 11,918 (up 0.3%). BHARTI INFRATEL (up 2.2%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 35,142 to 40,472, registering a gain of 5,330 points (up 15.0%).

CORPORATION BANK Financial Update...

CORPORATION BANK net profit stood at Rs 1 billion for the quarter ended September 2019, compared to a profit of Rs 605 million a year ago. Operating income rose 5.0% to Rs 40.1 billion during the period as against Rs 38.2 billion in July-September 2018.

For the year ended March 2019, CORPORATION BANK reported 56.2% increase in net profit to Rs 63.3 billion compared to net profit of Rs 40.5 billion during FY18.

Revenue of the company grew 11.4% to Rs 156 billion during FY19.

The current Price to earnings ratio of CORPORATION BANK, based on rolling 12 month earnings, stands at down 1.6x.

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