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

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CORPORATION BANK Surges by 5%; BSE BANKEX Index Down 0.8%
Mon, 13 Aug 09:28 AM

CORPORATION BANK share price has zoomed 5% and is presently trading at Rs 30.

Meanwhile, the BSE BANKEX Index is at 31,510 (down 0.8%).

Among the top Gainers in the BSE BANKEX Index today is CORPORATION BANK (up 5.4%).

KOTAK MAH. BANK and INDUSIND BANK (down 0.2%) are among the top losers today.

Over the last one year, CORPORATION BANK has moved down from Rs 46 to Rs 30, registering a loss of Rs 16 (down 36.5%).

On the other hand, the BSE BANKEX has moved up from 27,340 to 31,510, registering a gain of 4,170 points (up 15.2%) during the last 12 months.

The top gainers among the BSE BANKEX Index stocks during this same period were KOTAK MAH. BANK (up 29.5%), AXIS BANK (up 25.5%) and INDUSIND BANK (up 21.2%).

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What About the Benchmark Indices?

The BSE Sensex is at 37,693 (down 0.6%).

The top gainers among the BSE Sensex stocks today are WIPRO (up 1.1%), SUN PHARMA (up 0.8%) and ITC LTD (up 0.5%). Other gainers include COAL INDIA (up 0.4%) and INFOSYS LTD (up 0.3%). The most traded stocks in the BSE Sensex are COAL INDIA and ITC LTD.

In the meantime, NSE Nifty is at 11,370 (down 0.6%). TECH MAHINDRA (up 2.9%) is among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved up from 31,531 to 37,693, registering a gain of 6,162 points (up 19.3%).

CORPORATION BANK Financial Update...

CORPORATION BANK net profit down at Rs 18 billion for the quarter ended March 2018, compared to a loss of Rs 12 billion a year ago. Operating income declined 4.4% to Rs 41.9 billion during the period as against Rs 43.9 billion in January-March 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 1.2x.

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