Stocks

Allahabad Bank falls after March-quarter loss widens

Reuters Mumbai | Updated on May 13, 2019 Published on May 13, 2019

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Shares of Allahabad Bank Limited fall as much 5.8 per cent to Rs 42.45, their lowest since February 20.

The bank’s March-quarter loss widened to Rs 3834 crore while provisions for bad loans grew three per cent.

Its forward PE of -1.45 was lower than the sector average of 13.02. Rivals - Bandhan Bank Limited and RBl Bank Limited have a forward PE of 27.46 and 24.29, respectively.

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Published on May 13, 2019
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