Central Bank of India plunges 10% after Q3 net loss

The bank reported a net loss of Rs.836.62 crore for the quarter ended 31 December compared with a net profit of Rs.138 crore in the year-ago quarter.

Central Bank of India is currently trading at Rs. 55.45, down by Rs. 6.4 or 10.35% from its previous closing of Rs. 61.85 on the BSE. Central Bank of India reported a net loss of Rs.836.62 crore for the quarter ended 31 December compared with a net profit of Rs.138 crore in the year-ago quarter. The state-owned bank’s provisions more than doubled to Rs.1,499 crore from Rs.699 crore a year ago.

The scrip opened at Rs. 57.8 and has touched a high and low of Rs. 57.8 and Rs. 53.75 respectively. So far 1077317(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 10256.42 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 121 on 24-Feb-2015 and a 52 week low of Rs. 59.1 on 04-Feb-2016. Last one week high and low of the scrip stood at Rs. 62.9 and Rs. 59.1 respectively.

The promoters holding in the company stood at 81.46 % while Institutions and Non-Institutions held 13.68 % and 4.86 % respectively.

The stock is currently trading above its 200 DMA.