Corporation Bank hit a 52-week high of Rs 197.45 before closing at Rs 191.75, up by 10.17 per cent. more than 17.03 lakh shares were traded on the BSE.
Banking PSUs in general have been much pursued of late due to reports that the government is considering a bill to reduce stake in these banks in the current session of Parliament.
The government, it is reported, plans to bring its stake in all public sector banks down to 33 per cent.
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As on March 31, the government holding in Corporation Bank was 57.17 per cent, while that of institutions and the public was at 37.98 per cent and 4.85 per cent, respectively.
For FY03, the bank registered a 35 per cent rise in net profit to Rs 415.99 crore (Rs 308.1 crore).
On a 13.2 per cent increase in total income to Rs 2,634.28 crore (Rs 2,327.63 crore).
On a consolidated basis, for the year ended March 31, the company recorded a net profit of Rs 438.11 crore (Rs 373.65 crore) on a total income of Rs 2,733.63 crore (Rs 2,476.03 crore).
Meanwhile, the company recommended a dividend of 45 per cent for FY03.