Corporation Bank trades with traction on the bourses

Corporation Bank is currently trading at Rs. 294.00, up by 4.35 points or 1.50% from its previous closing of Rs. 289.65 on the BSE. The scrip opened at Rs. 289.00 and has touched a high and low of Rs. 294.85 and Rs. 281.00 respectively. So far 5040 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 429.95 on 29-May-2013 and a 52 week low of Rs. 220.10 on 24-Feb-2014. Last one week high and low of the scrip stood at Rs. 293.00 and Rs. 279.40 respectively. The current market cap of the company is Rs. 4917.35 crore. The promoters holding in the company stood at 63.33% while Institutions and Non-Institutions held 29.02% and 7.65% respectively. Corporation Bank, public sector lender has opened one new SME (small and medium enterprises) loan centre in Ludhiana on April 23, 2014. SME clusters, such as auto components, hosiery, machine tools, hand-tools, forging, and bicycle parts in and around Ludhiana would benefit from this initiative. Earlier, the bank had opened one SME loan centre in Ahmedabad. Corporation Bank is a Mangalore-based mid-sized public sector bank which was established in 1906. Government of India is the majority shareholder holding 59.82% stake in the bank. As on March 31, 2013, the bank has 1707 branches and 1425 ATMs.