Canara Bank scrip at peak, rises over 5% on smart Q2 nos

State-owned Canara Bank today surged over five per cent at the Bombay Stock Exchange, touching its lifetime high of Rs 693.30, a day after the lender posted 10 per cent growth in its net profit for the second quarter ended September 30.

The company had yesterday reported a 10 per cent rise in net profit at Rs 1,007.8 crore for the second quarter ended September 30, 2010. It had a net profit of Rs 910.5 crore in the same quarter of the last fiscal.

Led by the good numbers, Canara Bank share soared by 5.52 per cent to Rs 693.30 on the BSE. Similarly, on the National Stock Exchange, the bank was trading at Rs 686.80, up by 4.81 per cent.

In terms of volume, over 21 lakh shares of the bank were traded on the bourses in the morning trade.

Meanwhile, other PSU banks, including Allahabad Bank and Corporation Bank, were also trading in green.

Scrips of Allahabad Bank and Corporation Bank, which will announce their second quarter results today, surged by 1.75 per cent and 3.17 per cent, respectively, on BSE on expectations of good quarterly numbers.

Meanwhile, the BSE Sensex was trading at 19,981.90, up by 109.75 points.