DCB Bank jumps on entering into partnership with Max Life Insurance Company

At 2:30 pm, the shares of DCB Bank were trading at Rs 127.60, up by 2.00% from its previous closing of Rs 125.10 on the BSE. 

DCB Bank has entered into partnership with Max Life Insurance Company. Through this collaboration, Max Life and DCB Bank will provide a variety of life insurance products to the Bank’s customers, including term, savings, and retirement plans, allowing them to protect their financial future and expand their investment portfolio. The business tie-up will offer Bank customers access to Max Life’s protection and long-term savings solutions, offering financial stability for themselves and their families. 

DCB Bank is a new generation private sector bank with 427 branches (as on 31st March 2023) across India. It is a scheduled commercial bank regulated by the Reserve Bank of India. It is professionally managed and governed. DCB Bank has contemporary technology and infrastructure including state of the art internet banking and mobile banking for personal as well as business banking customers. DCB Bank’s business segments are Retail, micro-SME, SME, mid-Corporate, Agriculture, Commodities, Government, Public Sector, Indian Banks, Co-operative Banks and Non-Banking Finance Companies (NBFC). DCB Bank has approximately one million customers. 

Today, the stock opened at Rs 125.20 and has touched a high and low of Rs 130.25 and Rs 124.55 respectively. 

The BSE group ‘A’ stock of face value Rs 10 has touched a 52 week high and low of Rs 141.20 and Rs 81.00, respectively. 

Last one week high and low of the scrip stood at Rs 132.30 and Rs 120.85 respectively. The current market cap of the company is Rs 3,977.68 crore. 

The promoters holding in the company stood at 14.83%, while Institutions and Non-Institutions held 52.16% and 33.01% respectively.

Disclaimer: This blog is exclusively for educational purposes. The securities quoted are exemplary and are not recommendatory.