Wednesday, 19 April 2017

DCB Bank hits 52-week high post Q4

Shares of DCB Bank rebounded over 6 percent, hitting a 52-week high, on the Bombay Stock Exchange after the bank reported 24 percent year on year drop in net profit at Rs 53 crore for the fourth quarter ended March 2017 (Q4FY17), on higher provisioning and higher tax expense. The private sector witnessed sharp selling yesterday following the January-March quarter earnings report. In line with PSU Bank index, shares of private sector lender gained as much as 6.58 per cent to hit the 52-week high of Rs 184.65 apiece on the Bombay Stock Exchange. The script was currently trading at Rs 180.80 against the previous close price of Rs 173.25.

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