India's Allahabad Bank, 2 others rise after RBI takes them off PCA list

Dhanlaxmi Bank

27/02/2019 04:18

** Shares in state-owned Allahabad Bank  ALBK.NS ,
Corporation Bank  CRBK.NS  and privately held Dhanlaxmi Bank
 DNBK.NS  rise as much as 6-10.4 percent in early trade
    ** India's central bank on Tuesday removed the three banks
out of its prompt corrective action (PCA) framework after they
received a capital injection from the govt
    ** Reserve Bank of India (RBI) had imposed lending curbs on
11 state banks over last few years after their capital ratios
fell below minimum requirements and bad loans surged
    ** Corporation Bank stock hit its highest since June 13;
Dhanlaxmi stock clocked its biggest intraday pct gain since Nov
2
    ** More than 1.4 mln Corporation shares were traded, twice
its 30-day avg of about 685,200, while 3.8 mln Dhanlaxmi shares
exchanged hands, over 11 times their 30-day avg of about 339,900
    ** Over 6.4 mln shares traded of Allahabad Bank vs 30-day
avg of 5.1 mln

 ((Reuters Messaging:
krishna.vkurup.thomsonreuters.com@reuters.net))