Andhra Bank is currently trading at Rs. 55.80, up by 0.90 points or 1.64% from its previous closing of Rs. 54.90 on the BSE.
The scrip opened at Rs. 55.30 and has touched a high and low of Rs. 56.00 and Rs. 55.10 respectively. So far 159496 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 64.50 on 15-Jul-2016 and a 52 week low of Rs. 44.80 on 24-May-2016.
Last one week high and low of the scrip stood at Rs. 56.00 and Rs. 53.30 respectively. The current market cap of the company is Rs. 3783.86 crore.
The promoters holding in the company stood at 61.26%, while Institutions and Non-Institutions held 21.40% and 17.34% respectively.
Cigna TTK Health Insurance, a joint venture of the US-based Cigna Corporation and TTK Group, is reportedly planning to expand its bancassurance partnership with Andhra Bank.
Phase II of the bancassurance tie-up with Andhra Bank has just commenced in 2017 and will cover 2,000 branches across the country, including Telangana and Andhra Pradesh. On distribution side, Cigna TTK will add 10,000 new agents to its existing strength of 15,000 agents.
As part of the partnership entered into with Andhra Bank in September 2016, TTK Health Insurance had covered over 800 branches in the first phase.