Central Bank of India gains on inking co-lending partnership with M/s. Piramal Capital
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Central Bank of India is currently trading at Rs. 60.81, up by 0.29 points or 0.48% from its previous closing of Rs. 60.52 on the BSE.
The scrip opened at Rs. 61.26 and has touched a high and low of Rs. 61.26 and Rs. 60.62 respectively. So far 104903 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 76.85 on 07-Feb-2024 and a 52 week low of Rs. 34.09 on 01-Sep-2023.
Last one week high and low of the scrip stood at Rs. 61.76 and Rs. 58.39 respectively. The current market cap of the company is Rs. 52710.66 crore.
The promoters holding in the company stood at 93.08%, while Institutions and Non-Institutions held 2.97% and 3.94% respectively.
Central Bank of India has entered into a strategic Co-Lending partnership with M/s. Piramal Capital & Housing Finance to offer MSME LAP and Home Loans at competitive rates, subject to compliance with the applicable law(s) including the applicable guidelines issued by Reserve Bank of India (RBI). The participation by both the entities in this Co-Lending arrangement will result in greater expansion of portfolio by Central Bank of India and M/s. Piramal Capital & Housing Finance.
M/s. Piramal Capital & Housing Finance is a Non-Deposit Taking Housing Finance Company, registered with National Housing Bank (NHB). Piramal Capital & Housing Finance (referred as Piramal Finance), a wholly owned subsidiary of Piramal Enterprises (flagship company of the Piramal Group), is a housing finance company engaged in retail and wholesale lending, catering to the diverse financial needs of the underserved and unserved.
The Co-Lending arrangement is expected to help both the entities to offer convenient experience and customer delight to their customers as well as expand their reach across India.
Central Bank of India is a commercial bank. The bank’s segments include Treasury Operations, Corporate/Wholesale Banking, Retail Banking and other Banking business.
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