CORPORATION BANK Surges by 5%; BSE BANKEX Index Up 1.1%
December 27, 2019 02:43 PM

CORPORATION BANK share price has zoomed 5% and is presently trading at Rs 26.

Meanwhile, the BSE BANKEX Index is at 36,935 (up 1.1%).

Among the top Gainers in the BSE BANKEX Index today is CORPORATION BANK (up 5.1%).

KOTAK MAHINDRA BANK (down 0.5%) and YES BANK (down 0.8%) are among the top losers today.

Over the last one year, CORPORATION BANK has moved down from Rs 28 to Rs 26, registering a loss of Rs 2 (down 8.0%).

On the other hand, the BSE BANKEX has moved up from 30,111 to 36,935, registering a gain of 6,824 points (up 22.6%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were ICICI BANK (up 53.7%), KOTAK MAHINDRA BANK (up 34.8%) and CITY UNION BANK (up 24.9%).

What About the Benchmark Indices?

The BSE Sensex is at 41,529 (up 0.8%).

The top gainers among the BSE Sensex stocks today are AXIS BANK (up 2.8%), POWER GRID (up 2.3%) and SBI (up 2.1%). Other gainers include COAL INDIA (up 1.7%) and BHARTI AIRTEL (up 1.7%). The most traded stocks in the BSE Sensex are SBI and ICICI BANK.

In the meantime, NSE Nifty is at 12,232 (up 0.8%). AXIS BANK (up 3.0%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 35,650 to 41,529, registering a gain of 5,879 points (up 16.4%).

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 2.5x.