Tuesday 19 July 2016

Corporation Bank jumps 1.3% on Rs.677 cr recapitalization

Corporation Bank will received Rs. 677 crore as part of the recapitalization.

Corporation Bank
Shares of Corporation Bank surged 1.3% to Rs.42.85 on BSE after the government announced Rs.23,000 crore to recapitalize 13 public sector banks (PSBs).

Corporation Bank will received Rs. 677 crore as part of the recapitalization.

The scrip opened at Rs. 43 and has touched a high and low of Rs. 43.9 and Rs. 42 respectively. So far 669070(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4325.11 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 56.25 on 18-Aug-2015 and a 52 week low of Rs. 30.75 on 25-Feb-2016. Last one week high and low of the scrip stood at Rs. 45.2 and Rs. 41.75 respectively.

The promoters holding in the company stood at 67.2 % while Institutions and Non-Institutions held 26.51 % and 6.29 % respectively.

The stock is currently trading above its 200 DMA.

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