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Allahabad Bank shares fell as much as 4.35 per cent on Wednesday.
At 1.30 pm, the stock pared its losses and was trading at Rs 42.30, down 0.24 per cent on the BSE.
Local rating agency Crisil has cut the bank’s tier-I and tier-II bonds from various levels to "AA".
Earlier this month, the bank reported December-quarter loss on higher provisions
The stock had lost 38.54 per cent this year as of Tuesday's close.
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