CORPORATION BANK Surges by 5%; BSE BANKEX Index Up 0.8%

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CORPORATION BANK Surges by 5%; BSE BANKEX Index Up 0.8%
Tue, 27 Aug 10:26 AM

CORPORATION BANK share price has zoomed 5% and is presently trading at Rs 18.

Meanwhile, the BSE BANKEX Index is at 31,891 (up 0.8%).

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

KOTAK MAHINDRA BANK (down 0.7%) is among the top loser today.

Over the last one year, CORPORATION BANK has moved down from Rs 27 to Rs 18, registering a loss of Rs 9 (down 33.1%).

On the other hand, the BSE BANKEX has moved down from 31,974 to 31,891, loss of 83 points (down 0.6%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were ICICI BANK (up 22.6%), KOTAK MAHINDRA BANK (up 17.9%) and HDFC BANK (up 8.6%).

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What About the Benchmark Indices?

The BSE Sensex is at 37,694 (up 0.4%).

The top gainers among the BSE Sensex stocks today are TATA MOTORS (up 4.9%), TATA MOTORS DVR (up 4.7%) and L&T (up 3.2%). Other gainers include TATA STEEL (up 3.1%) and INDUSIND BANK (up 3.1%). The most traded stocks in the BSE Sensex are YES BANK and SBI.

In the meantime, NSE Nifty is at 11,124 (up 0.5%). BRITANNIA (up 5.3%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 38,694 to 37,694, registering a gain of -1,000 points (up -2.7%).

CORPORATION BANK Financial Update...

CORPORATION BANK net profit stood at Rs 1 billion for the quarter ended June 2019, compared to a profit of Rs 605 million a year ago. Operating income rose 4.4% to Rs 39.9 billion during the period as against Rs 38.2 billion in April-June 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 1.7x.

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