Central Bank of India Adjusts Evaluation Score Amid Mixed Technical Indicators and Profit Growth

Central Bank of India, a midcap public sector bank, has recently undergone an adjustment in its evaluation score. This revision reflects a shift in technical trends, moving from a bearish outlook to a mildly bearish stance. The bank's technical indicators present a mixed picture; while the MACD shows a mildly bullish signal on a weekly basis, it remains bearish on a monthly scale. The Bollinger Bands also indicate a mildly bullish trend weekly, contrasting with a mildly bearish monthly view.
In terms of performance metrics, Central Bank of India has demonstrated a notable annual growth in net profits, achieving a compound annual growth rate (CAGR) of 41.58%. The bank's operating cash flow reached its highest at Rs -2,468.93 crore, and the profit after tax for the latest quarter stood at Rs 1,168.69 crore. Additionally, the gross non-performing assets (NPA) have decreased to 3.13%, indicating improved asset quality.

Despite these positive indicators, the stock has underperformed relative to the broader market, with a one-year return of -35.54%, compared to the BSE500's decline of -3.80%. Institutional investor participation has also seen a decline, with a 1.11% reduction in their stake over the previous quarter.

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