Dena Bank slashes MCLR for select tenors

Mumbai-headquartered, Dena Bank has slashed its marginal cost-based lending rates (MCLR) by 0.05% for a select maturity period. The rate cuts are effective from July 1.

The bank has decided rates of 8.35%, 8.45% and 8.55% for 3-month, 6-months and one-year tenors, respectively.

Whereas, for the overnight period 8.20% and for one-month period 8.30% rates have been finalised, respectively.

Generally, banks review their MCLR rates on a monthly basis.

Dena Bank share closed at Rs 33.45 per share higher by Rs 0.15 per share or 0.45% on Friday. It has given negative returns of 14% underperforming the BSE Small Cap and BSE Bankex indices in a period of one year.

The PSU bank’s segments include treasury operations, corporate/ wholesale banking, retail banking and other banking operations. The bank offers deposits and loans, and Internet banking, corporate banking and international banking.

Stock view :

Dena Bank ended at Rs 33.45, up by Rs 0.15 or 0.45% from its previous closing of Rs 33.3 on the BSE.

The scrip opened at Rs 33.3 and touched a high and low of Rs 33.7 and Rs 33 respectively. A total of 942260(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 2633.02 crore.

The BSE group 'A' stock of face value Rs 10 touched a 52 week high of Rs 50 on 09-May-2017 and a 52 week low of Rs 30.5 on 09-Nov-2016. Last one week high and low of the scrip stood at Rs 34.85 and Rs 33 respectively.

The promoters holding in the company stood at 68.55 % while Institutions and Non-Institutions held 18.58 % and 12.87 % respectively.

The stock traded below its 100 DMA.

Dena Bank :-

BSE 33.45 0.15    (0.45%)
NSE 33.40 0    (0%)


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