Allahabad Bank down 2%; proposes to sell its non-core assets

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The bank proposes to sell its non-core assets including divestments of its stake in joint ventures, associates, selling some of the immovable properties owned by the bank.

Shares of Allahabad Bank was down 2.6 percent intraday Friday as bank proposes to sell its non-core assets.


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In compliance with the Government of India directives under PSBs Reform Agenda, bank has initiated various steps to leverage its strengths for focusing on its core business.

As a part of its said initiatives, the bank proposes to sell its non-core assets including divestments of its stake in joint ventures, associates, selling some of the immovable properties owned by the bank.

The share touched its 52-week high Rs 89.15 and 52-week low Rs 37.40 on 26 October, 2017 and 16 May, 2018, respectively.

Currently, it is trading 53.95 percent below its 52-week high and 9.76 percent above its 52-week low

At 10:26 hrs Allahabad Bank was quoting at Rs 41.05, down Rs 0.90, or 2.15 percent.

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