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Monday, 27 March 2017

Public sector banking company, Corporation Bank in Monday’s trading session rose by 1.35%, as the company, on Friday, had announced that it has raised Rs 5000 crore though issue of BASEL III compliant Additional Tier-I Perpetual Bonds.

The stock hit an intraday high of Rs 49.20 per share; and an intraday low of Rs 48.40 per share. On February 7, 2017, the stock had hit a 52-week high of Rs 57; and on June 3, 2016, the stock hit its 52-week low of Rs 34. 

The stock has delivered over 23% returns in a period of one year, underperforming the BSE Mid-cap and BSE Bank indices over the same time period. As of December 31, 2016, the government of India holds 7.77% stake in the Bank.

Corporation Bank is currently trading at Rs 49.4, up by Rs 1.25 or 2.6% from its previous closing of Rs 48.15 on the BSE. The scrip opened at Rs 48.15 and has touched a high and low of Rs 49.6 and Rs 48.15 respectively. So far 755061(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 5523.08 crore.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 57 on 07-Feb-2017 and a 52 week low of Rs 34 on 03-Jun-2016. Last one week high and low of the scrip stood at Rs 49.2 and Rs 46.65 respectively.

The promoters holding in the company stood at 70.76 % while Institutions and Non-Institutions held 23.87 % and 5.37 % respectively. The stock is currently trading above its 50 DMA.

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