CORPORATION BANK Surges by 15%; BSE BANKEX Index Up 0.3%

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CORPORATION BANK Surges by 15%; BSE BANKEX Index Up 0.3%
Thu, 21 Feb 09:20 AM

CORPORATION BANK share price has zoomed 15% and is presently trading at Rs 29.

Meanwhile, the BSE BANKEX Index is at 30,235 (up 0.3%).

Among the top Gainers in the BSE BANKEX Index today is CORPORATION BANK (up 15.3%).

Over the last one year, CORPORATION BANK has moved down from Rs 32 to Rs 29, registering a loss of Rs 3 (down 9.3%).

On the other hand, the BSE BANKEX has moved up from 28,061 to 30,235, registering a gain of 2,174 points (up 7.7%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were AXIS BANK (up 32.2%), KOTAK MAH. BANK (up 23.6%) and HDFC BANK (up 13.0%).

Revealed: Top 3 Stocks for 2020 and Beyond

What About the Benchmark Indices?

The BSE Sensex is at 35,837 (up 0.2%).

The top gainers among the BSE Sensex stocks today are TATA MOTORS DVR (up 1.3%), ONGC (up 1.3%) and HERO MOTOCORP (up 1.1%). Other gainers include HDFC BANK (up 1.1%) and VEDANTA LTD (up 1.0%). The most traded stocks in the BSE Sensex are HDFC BANK and HERO MOTOCORP.

In the meantime, NSE Nifty is at 10,747 . ONGC (up 1.2%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 33,704 to 35,837, registering a gain of 2,133 points (up 6.3%).

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 3.1x.



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