DCB Bank nosedives 20%; posts 10% decline in net profit
DCB Bank share price : 106.80 rs
Oct 14, 15:43
The shares of DCB Bank nosedived nearly 20 per cent in trade on Wednesday after the private sector lender reported a 10 per cent decline in net profit at Rs 36.93 crore for the July-September quarter.
The stock hit an intraday low of Rs 106.80, down 19.97 per cent on the Bombay Stock Exchange .
The bank said it will double its branches to over 310 over the next 12 months. However, the aggressive expansion plans failed to impress investors.