ING Vysya Bank zooms over 10% on good earning nos

Shares of ING Vysya Bank today surged over 10% in the morning trade on the BSE after the lender reported 32% jump in net profit during 2010-11.

Boosted by the strong numbers, the scrip of the private sector lender spurted by 10.68% to touch a month's high of Rs 371.40 on the Bombay Stock Exchange (BSE).

The stock attracted buyers on the National Stock Exchange as well, where it shot up by 10.39% to a high of Rs 371.85.

On the volume front, over 14 lakh shares of the company changed hands on the bourses in the morning session.

ING Vysya Bank had yesterday reported a net profit of Rs 318.7 crore during the 2010-11, a 32% jump over the year-ago period.

During the fourth quarter, net profit was up by 34% to Rs 91.3 crore.

The Board of Directors of the company has proposed a dividend of 30% i.E. Rs 3 per equity share of Rs 10 each for the year ended March 31, 2011, which is subject to the approval of the shareholders.

Value buying was also seen at the counters of other major banks, SBI was trading higher by 1.01%, HDFC Bank rose by 1.49% and ICICI Bank was up by 0.33%.

Meanwhile, the BSE broader Sensex was quoting at 19,602.38, up 131.40 points at 10:43 hrs.