Cummins India Q1 net profit up 23 pc at Rs 222 cr

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Advances also increased by 2.08% at Rs 399,749.84 crore in Q1, compared to Rs 391,574.24 crore a year ago same period.

The stock, which touched a low of Rs 791.75 in mid-November 2016, saw a nice ride up the charts subsequently and went on to touch a high of Rs 1696.90 on 14 June 2017.

UCO Bank on Wednesday said its net losses widened to Rs663.02 crore for the first quarter ended 30 June, as asset quality deteriorated in the period.

The lender's outstanding loan grew by a healthy rate of 42 per cent from a year ago to Rs 44,003 crore as of June 30, 2017.

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The companys net profit in the corresponding quarter of the previous fiscal was Rs 39.50 crore. Housing loan disbursements accounted for 65.6% of the total take-off in the quarter. Some large retail accounts that turned out to be bad, contributed to the rise in NPAs.

Andhra bank provided Rs 1329 crore as provisions and contingencies for the April-June quarter in the current fiscal against Rs 969 crore for the same quarter last fiscal. Duing the financial year 2016-17, the company sold loans worth Rs 3377 crore under loan assignment route.

A Bloomberg poll estimated net profit of Rs 344 crore in this quarter for PNB.

The buy-back of shares, at 1.5 per cent of the total paid up equity share capital, will be at Rs 425 per share.

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