Corporation Bank declined 3.63% to Rs 54.50 at 14:35 IST on BSE after the company reported higher bad loans in Q4.
The result was announced on Saturday, 20 May 2017.The stock has fallen 8.17% in four sessions to its ruling price of Rs 54.50 from a close of Rs 59.35 on 16 May 2017.
Meanwhile, the S&P Sensex was up 99.10 points, or 0.33% at 30,564.02. The S&P BSE Mid-Cap index was down 146.58 points, or 1% at 14,497.42.
On the BSE, 1.37 lakh shares were traded on the counter so far as against the average daily volumes of 1.63 lakh shares in the past one quarter. The stock had hit a high of Rs 57.80 and a low of Rs 53.90 so far during the day.
The stock had hit a 52-week high of Rs 64.70 on 5 May 2017 and a 52-week low of Rs 34 on 3 June 2016. The stock had underperformed the market over the past one month till 19 May 2017, rising 3.48% compared with the 3.85% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 21.87% as against Sensex's 7.01% rise.
The mid-cap bank has equity capital of Rs 229.41 crore. Face value per share is Rs 2.
Corporation Bank's gross non-performing assets (NPAs) stood at Rs 17045.22 crore as on 31 March 2017 as against Rs 15827.99 crore as on 30 December 2016 and Rs 14544.24 crore as on 31 March 2016.
The ratio of gross NPAs to gross advances stood at 11.7% as on 31 March 2017 as against 11.26% as on 31 December 2016 and 9.98% as on 31 March 2016.
The ratio of net NPAs to net advances stood at 8.33% as on 31 March 2017 as against 7.64% as on 31 December 2016 and 6.53% as on 31 March 2016.
The bank's provisions and contingencies fell 51.63% to Rs 948.01 crore in Q4 March 2017 over Q4 March 2016 of which provisions for NPAs dropped 56.62% to Rs 852.97 crore in Q4 March 2017 over Q4 March 2016.
Corporation Bank reported net profit of Rs 159.98 crore in Q4 March 2017 compared with net loss of Rs 510.96 crore in Q4 March 2016. Total income rose 9.8% to Rs 5730.48 crore in Q4 March 2017 over Q4 March 2016.
Government of India holds 70.76% stake in the bank (as on 31 March 2017).
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