Andhra Bank drops after poor Q3 numbers

Andhra Bank lost 1.71% to Rs 54.45 at 14:14 IST on BSE after net profit declined 82.27% to Rs 45.57 crore on 12.48% growth in total income to Rs 3900.54 crore in Q3 December 2013 over Q3 December 2012.

The Q3 result was announced during trading hours today, 7 February 2014.

Meanwhile, the S&P BSE Sensex was up 63.50 points or 0.31% at 20,374.24.

On BSE, so far 3.73 shares were traded in the counter as against average daily volume of 2.18 lakh shares in the past one quarter.

The stock hit a high of Rs 56.20 and a low of Rs 54 so far during the day. The stock had hit a 52-week high of Rs 107 on 6 February 2013. The stock had hit a 52-week low of Rs 47.30 on 3 September 2013.

The stock had underperformed the market over the past one month till 6 February 2014, sliding 11.64% compared with the Sensex's 2.29% fall. The scrip had also underperformed the market in past one quarter, declining 16.82% as against Sensex's 2.8% fall.

The mid-cap bank has equity capital of Rs 589.61 crore. Face value per share is Rs 10.

The Government of India (GoI) held 58% stake in Andhra Bank (as per the shareholding pattern as on 30 September 2013).

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