Allahabad Bank down 2% as Nifty gains 50 points

Shares of Allahabad Bank traded 1.94 per cent down in Friday 's trade at 10:00 am. Around 2130293 shares changed hands on the counter. The stock opened at Rs 7.6 and touched an intraday high and low of Rs 7.75 and Rs 7.3 , respectively, in the session so far.

The stock quoted a 52-week high of Rs 59.0 and a 52-week low of Rs 7.3 .

The bank shareholders would find nearly 25 per cent erosion in holding value, based on current stock price post amalgamation with the Indian Bank slated to be effective from April 1. Allahabad Bank's name and its board will cease to exist from April 1.


Financials
Allahabad Bank, incorporated in the year 1865, is a banking company (having a market cap of Rs 3445.41 Crore).


The Bank has reported a Gross Non Performing Assets (Gross NPAs) of Rs 32149.92 Crore and Net Non Performing Assets (Net NPAs) of Rs 7449.27 Crore.

Allahabad Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills which contributed Rs 11185.73 Crore to Sales Value (66.32 % of Total Sales), Income From Investment which contributed Rs 4942.83 Crore to Sales Value (29.30 % of Total Sales) and Interest which contributed Rs 322.08 Crore to Sales Value (1.90 % of Total Sales)for the year ending 31-Mar-2019.

Promoters holding
Promoters held 93.4332 per cent stake in the company as of Dec 2019 . For the quarter ended Dec 2019 , the company reported a net sales of Rs 2825.92 crore and net profit of Rs -1980.82 crore.

Valuation ratio
It quoted a price-to-earnings ratio of -0.43 and price to book value of 0.17.