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Allahabad Bank up 3% on 8-fold jump in net
BS Reporter / Mumbai Oct 23, 2009, 16:34 IST

The stock surged further to a new 52-week high of Rs 133 and finally ended with a 3% gain at Rs 130. Around 835,205 shares changed hands at the counter today.
_______________________________________________
(Updated at 1034 hrs)

Allahabad Bank is up 3% following a spectacular leap in Q2 net profit backed by robust growth in treasury income.

The stock opened at Rs 127 and then soared to a high of Rs 132. The scrip is now trading at Rs 130, up 3% from the previous close. The counter has clocked volumes of 181,123 shares on the BSE so far.

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allahabad bank
The company registered an eight-fold jump in net profit to Rs 333.59 crore for the quarter ended September 2009 as against Rs 41.60 crore in the corresponding quarter a year ago.

The net interest income advanced 22% to Rs 603 crore.

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