You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

DCB Bank moves north on reports of brokerage rating

Capital Market 

DCB surged 5.14% to Rs 182.15 at 11:50 on on reports that a domestic brokerage has maintained add rating on the stock for a target of Rs 190.

Meanwhile, the S&P Sensex was up 243.84 points or 0.83% at 29,657.50. The S&P Mid-Cap index was up 147.64 points or 1.03% at 14,534.71.

On the BSE, 4.06 lakh shares were traded on the counter so far as against the average daily volumes of 3 lakh shares in the past one quarter. The stock had hit a high of Rs 184.65 so far during the day, which is a record high. The stock hit a low of Rs 174.30 so far during the day.

The stock had hit a 52-week low of Rs 87.40 on 24 May 2016. It had outperformed the market over the past one month till 17 April 2017, advancing 6.13% compared with the Sensex's 0.79% fall. The scrip had also outperformed the market over the past one quarter, advancing 47.64% as against the Sensex's 8% rise.

The mid-cap has equity capital of Rs 285.36 crore. Face value per share is Rs 10.

Shares of DCB had declined 3.56% to settle at Rs 173.25 yesterday, 17 April 2017, after the bank reported weak Q4 March 2017 results on Friday, 14 April 2017. The was shut on that day for a holiday.

DCB Bank's net profit declined 24% to Rs 52.86 crore on 20.2% increase in total income to Rs 612.64 crore in Q4 March 2017 over Q4 March 2016. The bank's provisions and contingencies rose 24.5% to Rs 33.93 crore in Q4 March 2017 over Q4 March 2016.

DCB Bank is a new generation private sector bank with 262 branches across 18 states and 2 union territories.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 18 2017. 11:54 IST