Development Credit Bank shares opened weak in the early trading hours in BSE. The shares are trading weaker by over 5% at Rs 170 per share.
On Apr 14, 2017, the bank has declared its FY 2017 results which reported 24.3% dip in net profit at Rs 53 crore for the 4th quarter ended March of 2016-17 fiscal.
The bank had reported a net profit of Rs 70 crore in January-March quarter of 2015-16.
Meanwhile, on a yearly basis, the stock has outperformed BSE Mid cap index and BSE Bankex index.
Although BSE Bankex opened on a positive note at 24765 levels and currently dipping by 52 points or 0.21% at 24679 levels.
At 09:42 IST there are 662 advances, 873 declines and 412 unchanged stocks in NSE indicating a negative undertone in the market