Thursday, 22 February 2018

Shares Of Allahabad Bank Lost Over 3 Percent Intraday On Thursday

Shares of Allahabad Bank lost over 3 percent intraday on Thursday as investors reacted to its announcement of exposure to Rotomac Group.

In a filing to exchanges, the public sector bank declared that it has exposure of over Rs 500 crore to the group. Further, it clarified that the said amount has been declared as a non-performing asset and the required provision has been made.

It also informed that some accounts have been filed under National Company Law Tribunal as well.

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