Allahabad Bank

Allahabad Bank stock jumps after equity share allotment to government

Allahabad Bank stock jumps after equity share allotment to governmentStock in Allahabad Bank jumped more than one per cent in early morning trade on Thursday, Dec. 26, 2013, after the bank announced that it had allotted 4.45 crore equity shares on preferential allotment basis to the Government of India.

In a statement to the Bombay Stock Exchange (BSE), the bank declared that it had allotted a total of 4,45,83,147 equity shares with face value of Rs 10 each for cash at an Issue Price of Rs. 89.72 per equity share including premium of Rs. 79.72 on preferential basis to Government of India

Allahabad Bank hikes deposit rates by up to 1.2 percent

Allahabad-BankNew Delhi, Nov 4 : The government-run lender Allahabad Bank said it has hiked interest rates on domestic term deposits by up to 1.2 percent per annum effective from Monday.

“Bank has decided to revise the interest rate upward up to 1.20 percent on different maturity on domestic retail term deposits schemes less than Rs. 1 crore, with effect from Nov 4, 2013,” Allahabad Bank said in a statement.

The bank, however, did not announce any change in lending rates.

The public sector bank's decision to hike term deposit rates came days after the Reserve Bank of India hiked its key policy rate.

Allahabad Bank Q4 net profit dips 68.47 percent

Allahabad-BankKolkata, May 7 : Public sector Allahabad Bank Tuesday reported a 68.47 percent dip in net profit for the quarter ended March 31, 2013, to Rs. 126.15 crore from Rs. 400.22 crore in the corresponding year-ago period.

The Kolkata-headquartered bank attributed the sharp drop in profit to fresh addition of non-performing assets(NPA), higher provisioning and decline in yield on advances, its chairperson and managing director Shubhalakshmi Panse told reporters after announcing the results.

The bank's total income, however, increased to Rs. 4,776.90 crore for the period under review from Rs. 4,523.38 crore in the year-ago period.

Allahabad Bank suffers 52% drop in Q2 net profit

AllahabadStock in Allahabad Bank slipped over 2 per cent in a flat market on Monday after the state-run lender reported a declined of more than 50 per cent in second quarter net profit year-on-year.

Allahabad Bank on Monday announced that its net profit slipped 52 per cent to Rs 234.20 crore in the three months through 30th of September, from Rs 488.02 crore in the corresponding period of last fiscal.

Quarter-on-quarter, net profit slipped from Rs 514.03 crore to Rs 234.20 crore.

Allahabad Bank’s Profit Rises By 20.45%

Allahabad Bank’s Profit Rises By 20.45%Chairperson and Managing Director of Allahabad Bank, J. P. Dua has reported that the total business of bank at the Q1 has increased by 26.36% at Rs 2.32 lakh crore. During the first quarter of FY12, the net profit of Allahabad Bank has increased by 20.45% at Rs 418.13 crore as compared to Rs 347 crore in the same period of the previous fiscal year.

It was reported that the Net interest margin (NIM) of the bank during the first quarter was marked for about 3.40% as compared to 3.10% in the previous first quarter and the recovery of NIM for the first quarter was Rs 250 crore.

Allahabad Bank eyes business growth of 24 percent

Allahabad Bank eyes business growth of 24 percentKolkata, June 10 : The state-run Allahabad Bank has targeted a business growth of 24 percent during the current financial year 2011-12, a top bank official said here Friday.

The bank has also projected a business level of around Rs. 2,80,000 crore as in March 2012, chairman and managing director J. P Dua said in his address at the bank's ninth Annual General Meeting.

The bank plans to increase its presence abroad by opening more overseas branches, Dua said.

Buy Allahabad Bank To Achieve Target Of Rs 291

Buy Allahabad Bank To Achieve Target Of Rs 291Technical analyst Anand Kuchelan of Fudiciary Euromax Capital Markets has maintained 'buy' rating on Allahabad Bank stock with a target of Rs 220-225.

The stock of the bank, on March 17, closed at Rs 135.40 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 219.70 and a low of Rs 128 on BSE.

Current EPS & P/E ratio stood at 12.01 and 11.26 respectively.

Short Term Buy Call For Allahabad Bank

Short Term Buy Call For Allahabad BankTechnical analyst Prakash Gaba has maintained 'hold' rating on Allahabad Bank Limited stock.

The analyst said that the stock can be purchased with a stop loss of Rs 200.

Today, the stock of the company opened at Rs 201 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 270.90 and a low of Rs 123 on BSE.

Current EPS & P/E ratio stood at 32.59 and 6.38 respectively.

On domestic term deposits, Allahabad Bank has amended rates of interest to 8% on for a fixed time period of 300 days wef December 01.

Sell Allahabad Bank With Target Of Rs 215

Sell Allahabad Bank With Target Of Rs 215Stock market analyst Ashwani Gujral has maintained 'sell' rating on Allahabad Bank stock with a target of Rs 215.

According to analyst, the interested investors can sell the stock with strict stop loss of Rs 232.

Mr. Gujral said that the stock will go down in the coming days, so it's better to sell the stock in today's session.

Today, the stock of the company opened at Rs 228.10 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 236.90 and a low of Rs 108.50 on BSE.

Allahabad Bank net profit rises by 15%

Allahabad Bank net profit rises by 15%Leading Public sector bank, Allahabad Bank has announced its first quarter financial results for the fiscal year 2010-11. According to the report, it has registered a significant 15% rise in the net profit figure in the quarter under review.

Intraday Buy Call For Allahabad Bank

Intraday Buy Call For Allahabad BankTechnical Analyst Salil Sharma has maintained 'buy' rating on Allahabad Bank to achieve an intraday target of Rs 166

According to Mr. Sharma, interested traders can purchase the stock with a stop loss of Rs 154.

The shares of the bank, on May 13, closed at Rs 158.30 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 177 and a low of Rs 56.15 on BSE.

Current EPS & P/E ratio stood at 30.05 and 5.30 respectively.

Hold Allahabad Bank With Target Rs 175: Ashwani Gujral

Rhode Island man found guilty of killing a 15-year-old girl who was witness against him in a murder trialStock market analyst Ashwani Gujral is of the view that investors can hold Allahabad Bank stock to achieve a short-term target of Rs 175.

According to Mr. Gujral, the investors will hold the stock with a strict stop loss of Rs 160.

Today, the shares of the company opened at Rs 163 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 170 and a low of Rs 49.75 on BSE.

Allahabad bank Q1 net up at Rs 302.86 crore

Allahabad bank Q1 net up at Rs 302.86 croreAllahabad Bank has announced that it has clocked a net profit of Rs 302.86 crore during the three month period ended June 30, 2009.

In a filing to Bombay Stock Exchange (BSE), the bank said that it had reported a net profit of Rs 93.36 crore during the corresponding quarter of previous fiscal 2007-08.

The public sector bank has attributed the jump in net profit to improved treasury operations.

During the quarter under review, bank's total income has surged to Rs 2377.69 crore from Rs 1849.63 crore in the same period year ago.




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