Central Bank of India gains on inking MOU for commercial vehicle finance

Central Bank of India is currently trading at Rs. 51.40, up by 0.25 points or 0.49% from its previous closing of Rs. 51.15 on the BSE. The scrip opened at Rs. 51.25 and has touched a high and low of Rs. 51.50 and Rs. 51.05 respectively. So far 1,28,000 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 76.40 on 10-May-2013 and a 52 week low of Rs. 43.05 on 24-Feb-2014. Last one week high and low of the scrip stood at Rs. 53.50 and Rs. 49.65 respectively. The current market cap of the company is Rs. 5,363.00 crore. The promoters holding in the company stood at 88.63% while Institutions and Non-Institutions held 7.02% and 4.35% respectively. Public-sector bank, Central Bank of India has signed a Memorandum of Understanding (MOU) with Tata Motors for financing of commercial vehicles in India. As per MOU, the bank will provide loan up to 85% to eligible borrowers on merit for a maximum tenure of 5 years at a very competitive rate of interest. Central Bank of India has been serving more than 3,50,00,000 account holders with more than its 4,500 branches, 6 extension counters, 29 Satellite offices, 1,970 ATMs and 2,413 ultra small branches (USBs).