Dena Bank tanks nearly 6% on disappointing March qtr results

Shares of Dena Bank today slumped nearly 6 per cent after the company reported widening of losses to Rs 575.26 crore for the quarter ended March 31.
The stock slipped 5.61 per cent to settle at Rs 44.60 on BSE. During the day, it plunged 6.24 per cent to Rs 44.30.
On NSE, shares of the company went down by 5.9 per cent to close at Rs 44.60.
The company's market valuation too fell by Rs 208.31 crore to Rs 3,510.69 crore.
On the volume front, 29.28 lakh shares of the company were traded on BSE and over one crore shares changed hands on NSE during the day.

State-run Dena Bank today reported widening of losses to Rs 575.26 crore for the quarter ended March 31 as bad loans rose sharply.

The bank had reported a loss of Rs 326.38 crore in the same period of the previous fiscal.
Its total income during the January-March quarter also declined to Rs 2,612 crore, as against Rs 2,853 crore in the same period a year ago.
The bank's gross non-performing assets (NPAs) during the quarter rose significantly to 16.27 per cent as against 9.98 per cent in the same year-ago period.