Dena Bank shares surge 13 percent


Dena Bank shares surge 13 percent
Bangalore: The Dena Bank stock was among the top gainers, on a day when the banking stocks were on a roll in the Indian markets. After opening the day at 72, through the day the stock touched its 52 week high of 82.50, before closing trade at 81.45 - 12.97 percent above its previous close. Through the day, 9,465,390 shares of Dena Bank were traded in the market, with the current P/E ratio of the stock at 4.75. The 52 week stock price chart is on the left. Dena Bank is an India-based bank, which is engaged in treasury, corporate/wholesale banking, retail banking, and other banking operations. During the fiscal year ended March 31, 2009, the total number of branches comprised of 1184. Recently, Dena Bank reported an increase of 21.2 percent in net profit to 124.64 crore during the second quarter of the financial year as against 102.83 crore during the corresponding period last year. Out of the four analysts following the stock currently, the consensus recommendation is outperform, with two analysts recommending to buy the stock. JM Arbitrage Advantage Fund holds the highest number of Dena Bank shares with 1,370,252 shares in its kitty. Most of the banking stocks ended the day in the green with UCO Bank closing almost eight percent higher, Allahabad Bank up 5.24 percent and Indian Bank up 3.92 percent