Vijaya Bank gains 17% on bond hopes

DALAL STREET SPIKES

Vijaya Bank on Monday gained 16.89 per cent to close at Rs 39.45, after touching a high of Rs 40. The stock appreciated 12.39 per cent over the past one week, even as it had dipped marginally "� by 2.6 per cent "� in the last month.

The stock had touched its 52-week high at Rs 71.6 in January this year. On Monday, over 12 lakh shares changed hands on the counter.

For Q1FY07, the bank posted operating income growth of about 10.5 per cent y-o-y to Rs 613.4 crore, while net profit grew 163 per cent to Rs 72.6 crore. The bank recently announced that it was proposing to issue tier-two bonds aggregating to Rs 250 crore in the near future.