Corporation Bank rallies 11% after Q2 FY17 net profit rises

corporation bankCorporation Bank is currently trading at Rs 47.2, up by Rs 5.1 or 12.11% from its previous closing of Rs 42.1 on the BSE. The bank has posted a net profit of Rs 206 crore for the quarter ended September 30, 2016 as compared to Rs 188 crore for the quarter ended September 30, 2015.

For the bank, total income has increased from Rs 5,434.7 crore for the quarter ended September 30, 2015 to Rs 5,750.6 crore for the quarter ended September 30, 2016.

The scrip opened at Rs 45 and has touched a high and low of Rs 47.8 and Rs 44.4 respectively. So far 4294944 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 4829.11 crore.

The BSE group ‘A’ stock of face value Rs 2 has touched a 52 week high of Rs 47.8 on 09-Sep-2016 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 46.05 and Rs 35.6 respectively.

The promoters holding in the company stood at 70.76 % while Institutions and Non-Institutions held 23.89 % and 5.34 % respectively.

The stock is currently trading above its 50 DMA.

Corporation Bank
BSE 47.20 5.10 (12.11%)
NSE 47.15 4.95 (11.73%)

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Buzzing Stocks: Corporation Bank, Suzlon gain, while Tata Motors drops

Bussing stocksCorporation Bank soared 13% to Rs 47.65 on the BSE after the bank posted a net profit of Rs 206 crore for the quarter ended September 30, 2016 as compared to Rs 188 crore for the quarter ended September 30, 2015.

Hindalco Industries zoomed 3.8% after the company posted a net profit of Rs 439.7 crore for the quarter ended September 30, 2016 as compared to Rs 123.5 crore for the quarter ended September 30, 2015.

Tata Motors tanked 7.5%. The company has posted a net profit after tax, share of profit of joint ventures and associates of Rs 848 crore for the quarter ended September 30, 2016 as compared to net loss of Rs 1,740 crore for the quarter ended September 30, 2015.

Suzlon Energy rallied 6.7%. The company has posted a net profit of Rs 238 crore for the quarter ended September 30, 2016 as compared to net loss of Rs 202 crore for the quarter ended September 30, 2015.

Reliance Infrastructure slipped 5.7%. The company has posted a net profit after tax, minority interest and share of profit of associates of Rs 571 crore for the quarter ended September 30, 2016 as compared to Rs 426.3 crore for the quarter ended September 30, 2015.

Bank of Baroda climbed 5.7% after the bank posted four-fold rise in net profit at Rs 552 crore for the quarter ended on September 30, 2016, despite increase in bad loans. It had reported a net profit of Rs 124 crore during the same period last fiscal.

Tata Steel fell 5.7%.  The company has posted a net loss of Rs 49.5 crore for the quarter ended September 30, 2016 as compared to net profit of Rs 5,609 crore for the quarter ended September 30, 2015.

Aurobindo Pharma slipped 2.4%.  The pharma company reported 33.5% year-on-year rise in consolidated net profit to Rs 605.64 crore for the quarter ending September mainly on account of robust formulation sales.

BPCL slipped 1.5% after the oil marketing company posted a net profit of Rs 1,305 crore for the quarter ended September 30, 2016 as compared to Rs 1,034.52 crore for the quarter ended September 30, 2015.

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