Central Bank of India drops as RBI puts bank under PCA

Central Bank of India lost 2.41% to Rs 99.20 at 9:20 IST on BSE after the Reserve Bank of India has put the bank under prompt corrective action in view of high net non-performing assets. The announcement was made after market hours yesterday, 14 June 2017. Meanwhile, the S&P BSE Sensex was up 12.70 points or 0.04% at 31,168.61. On the BSE, 9,555 shares were traded on the counter so far as against the average daily volumes of 68,000 shares in the past two weeks. The stock had hit a high of Rs 101.90 and a low of Rs 97.60 so far during the day. The stock had hit a 52-week high of Rs 125 on 22 May 2017 and a 52-week low of Rs 76.35 on 28 November 2016. Nifty Trading Tips

The stock had underperformed the market over the past one month till 14 June 2017, sliding 11.18% compared with the Sensex's 3.21% rise. The stock had, however, outperformed the market over the past one quarter, gaining 8.31% as against the Sensex's 5.82% rise. The scrip had underperformed the market over the past one year, surging 14.6% as against the Sensex's 18.03% rise.The large-cap bank has equity capital of Rs 1902.17 crore. Face value per share is Rs 10. Central Bank of India said that the Reserve Bank of India (RBI) has put the bank under prompt corrective action (PCA) in view of high net non performing assets (NPA) and negative return on assets (RoA). The bank believes that corrective measures arising out of the PCA will help in improving overall performance of the bank. Future & Option Trading Tips