Moneycontrol
Last Updated : Jul 13, 2018 10:34 AM IST | Source: Moneycontrol.com

Allahabad Bank down 2%; proposes to sell its non-core assets

The bank proposes to sell its non-core assets including divestments of its stake in joint ventures, associates, selling some of the immovable properties owned by the bank.

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Shares of Allahabad Bank was down 2.6 percent intraday Friday as bank proposes to sell its non-core assets.

In compliance with the Government of India directives under PSBs Reform Agenda, bank has initiated various steps to leverage its strengths for focusing on its core business.

As a part of its said initiatives, the bank proposes to sell its non-core assets including divestments of its stake in joint ventures, associates, selling some of the immovable properties owned by the bank.

The share touched its 52-week high Rs 89.15 and 52-week low Rs 37.40 on 26 October, 2017 and 16 May, 2018, respectively.

Currently, it is trading 53.95 percent below its 52-week high and 9.76 percent above its 52-week low

At 10:26 hrs Allahabad Bank was quoting at Rs 41.05, down Rs 0.90, or 2.15 percent.

Posted by Rakesh Patil
First Published on Jul 13, 2018 10:34 am
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