May 20, 2019 / 4:30 AM / 2 months ago

BUZZ-India's Corporation Bank down after weak Q4 results

** Shares of Corporation Bank Ltd fall as much as 7.2% to 23.8 rupees, lowest since Oct. 29

** On Friday, the bank said here its Q4 net loss widened to 65.81 bln rupees ($946.1 mln) from 18.38 bln rupees a year earlier

** Provisions for bad loans nearly doubled to 85.06 billion rupees - CRBK

** Stock sees worst session in over 7 months

** Nifty’s state-run bank index rose as much as 5.3% after exit polls showed that Narendra Modi’s incumbent government would return for a second term

** Up to Friday’s close, the bank’s stock had fallen 11.2% this year (Reporting by Chandini Monnappa in Bengaluru)

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