Central Bank shares rise by 16 percent

By SiliconIndia   |   Wednesday, September 30, 2009
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Bangalore: The shares of Central Bank of India were on a roll on Wednesday after its price went up by 16 percent. The stock started the day at Rs. 138.75 and during the day it touched its 52 week high of Rs. 164.20, before closing at Rs. 161.20 up 16.39 percent or Rs. 22.70. Through the day 2,305,474 Central Bank shares were traded in the market, the current P/E ratio of the stock is 8.37. The 52 week stock price chart is on the left. Central Bank of India is a public sector bank based in India. As of March 31, 2009, the Bank operates 3,518 branches, 34 satellite offices and 219 extension counters. Out of these 1,376 are rural branches, 884 semi-urban branches, 675 urban branches and 583 metro branches. Recently, the bank announced a tie-up with Hyundai Motors for vehicle financing. Through this agreement, Central Bank will extend loans at attractive rates to Hyundai's customers to purchase all range of vehicles. The one analyst following the stock currently recommends to sell the shares of Central Bank. Tata Infrastructure Fund has the highest number of shares in Central Bank with a total of 2,527,231 shares. Most of the banking stocks finished the day in the green territory, with Indian Overseas Bank up by 4.85 percent, State Bank of India up 4.57 percent and Syndicate Bank was up by 3.10 percent.
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