Dena Bank falls over 10% in two days on weak Q4 results

Stock tanked 15% from its 52-week high of Rs 50 touched on May 9 before announcements of results.

Dena Bank was trading 5% lower at Rs 42.40, extending its Tuesday’s 5.6% decline on BSE as assets quality of the state-owned bank worsens further during the quarter ended March 2017 (Q4FY17).  The stock tanked 15% from its 52-week high of Rs 50 touched on May 9, in early morning trade before announcements of the results.

The bank’s gross non-performing assets (GNPA) as percentage of gross advances increased to 16.27% in Q4FY17 as against 9.98% in the same quarter last fiscal. Net NPA too rose to 10.66% in the quarter under review compared to 6.35% a year ago. GNPA and