CORPORATION BANK Surges by 5%; BSE BANKEX Index Up 0.3%

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CORPORATION BANK Surges by 5%; BSE BANKEX Index Up 0.3%
Thu, 14 Mar 09:20 AM

CORPORATION BANK share price has zoomed 5% and is presently trading at Rs 31.

Meanwhile, the BSE BANKEX Index is at 32,468 (up 0.3%).

Among the top Gainers in the BSE BANKEX Index today is CORPORATION BANK (up 5.2%).

KOTAK MAHINDRA BANK (down 0.1%) is among the top loser today.

Over the last one year, CORPORATION BANK has moved up from Rs 30 to Rs 31, registering a gain of Rs 1 (up 4.2%).

On the other hand, the BSE BANKEX has moved up from 27,905 to 32,468, registering a gain of 4,563 points (up 16.4%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 40.2%), ICICI BANK (up 29.0%) and HDFC BANK (up 20.2%).

Read Now: When the Dust Settles, This Stock Would Have Potentially Created Millionaires

What About the Benchmark Indices?

The BSE Sensex is at 37,841 (up 0.2%).

The top gainers among the BSE Sensex stocks today are YES BANK (up 1.2%), VEDANTA LTD (up 1.1%) and AXIS BANK (up 0.8%). Other gainers include WIPRO (up 0.8%) and HDFC (up 0.7%). The most traded stocks in the BSE Sensex are HDFC and SBI.

In the meantime, NSE Nifty is at 11,382 (up 0.4%). YES BANK (up 1.5%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 33,857 to 37,841, registering a gain of 3,984 points (up 11.8%).

CORPORATION BANK Financial Update...

CORPORATION BANK net profit declined 104.9% YoY to Rs 605 million for the quarter ended December 2018, compared to a loss of Rs 12 billion a year ago. Operating income declined 13.0% to Rs 38.2 billion during the period as against Rs 43.9 billion in October-December 2017.

For the year ended March 2018, CORPORATION BANK reported 815.8% decrease in net profit to Rs 40.5 billion compared to net profit of Rs 5.7 billion during FY17.

Revenue of the company grew 9.5% to Rs 176 billion during FY18.

The current Price to earnings ratio of CORPORATION BANK, based on rolling 12 month earnings, stands at down 3.3x.



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