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CORPORATION BANK Surges by 6%; BSE BANKEX Index Up 0.3%

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CORPORATION BANK Surges by 6%; BSE BANKEX Index Up 0.3%
Thu, 4 Jul 09:24 AM

CORPORATION BANK share price has zoomed 6% and is presently trading at Rs 27.

Meanwhile, the BSE BANKEX Index is at 35,327 (up 0.3%).

Among the top Gainers in the BSE BANKEX Index today is CORPORATION BANK (up 6.1%).

Over the last one year, CORPORATION BANK has moved up from Rs 25 to Rs 27, registering a gain of Rs 2 (up 9.1%).

On the other hand, the BSE BANKEX has moved up from 29,125 to 35,327, registering a gain of 6,202 points (up 21.2%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were ICICI BANK (up 60.1%), AXIS BANK (up 58.4%) and SBI (up 42.8%).

What About the Benchmark Indices?

The BSE Sensex is at 39,926 (up 0.2%).

The top gainers among the BSE Sensex stocks today are ONGC (up 1.1%), INDUSIND BANK (up 0.7%) and COAL INDIA (up 0.7%). Other gainers include TCS (up 0.6%) and AXIS BANK (up 0.6%). The most traded stocks in the BSE Sensex are YES BANK and SBI.

In the meantime, NSE Nifty is at 11,942 (up 0.2%). INDIABULLS HOU. FIN. (up 2.1%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 35,379 to 39,926, registering a gain of 4,547 points (up 12.8%).

CORPORATION BANK Financial Update...

CORPORATION BANK net profit down at Rs 66 billion for the quarter ended March 2019, compared to a loss of Rs 605 million a year ago. Operating income declined 4.6% to Rs 36.4 billion during the period as against Rs 38.2 billion in January-March 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 2.6x.

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