Central Bank of India gains on reporting turnaround in Q2 results

Central Bank of India rose 2.02% to Rs 73.25 at 10:25 IST on BSE after the bank reported a net profit of Rs 102.91 crore in Q2 September 2014 compared with net loss of Rs 1508.74 crore in Q2 September 2013.

The Q2 result was announced on Saturday, 8 November 2014.

Meanwhile, the S&P BSE Sensex was down 3.24 points or 0.01% at 27,865.39.

On BSE, so far 1.34 shares were traded in the counter as against average daily volume of 1.07 lakh shares in the past one quarter.

The stock hit a high of Rs 74.75 and a low of Rs 73.25 so far during the day. The stock had hit a 52-weekhigh of Rs 88.85 on 9 June 2014. The stock had hit a 52-week low of Rs 43.05 on 24 February 2014.

The stock had outperformed the market over the past one month till 7 November 2014, advancing 22.84% compared with the Sensex's 6.08% rise. The scrip had, however, underperformed the market in past one quarter, gaining 7% as against Sensex's 8.91% rise.

The large-cap public sector bank has an equity capital of Rs 1421.52 crore. Face value per share is Rs 10.

Central Bank of India (CBI)'s total income rose 12.58% to Rs 7021.10 crore in Q2 September 2014 over Q2 September 2013.

CBI's provisions and contingencies declined 65.45% to Rs 707.77 crore in Q2 September 2014 over Q2 September 2013.

The bank's ratio of gross non-performing assets (NPAs) to gross advances stood at 6.14% as on 30 September 2014 as against 6.15% as on 30 June 2014 and 6.47% as on 30 September 2013. The ratio of net NPAs to net advances stood at 3.38% as on 30 September 2014 as against 3.62% as on 30 June 2014 and 3.77% as on 30 September 2013.

Government of India holds 84.2% stake in the bank as at 30 September 2014.

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