Indian Bank gains on decent Q3 results

Indian Bank gained 1.83% to Rs 188.95 at 15:16 IST on BSE after net profit rose 4.92% to Rs 277.52 crore on 5.08% rise in total income to Rs 4321.46 crore in Q3 December 2014 over Q3 December 2013.

The bank announced Q3 results during market hours today, 2 February 2015

Meanwhile, the S&P BSE Sensex was up 29.75 points or 0.1% at 29,212.70.

On BSE, so far 1.62 lakh shares were traded in the counter as against average daily volume of 31,288 shares in the past one quarter.

The stock hit a high of Rs 193.05 and a low of Rs 180.10 so far during the day. The stock had hit a 52-week high of Rs 224.20 on 1 January 2015. The stock had hit a 52-week low of Rs 86.35 on 26 February 2014.

The stock had underperformed the market over the past one month till 30 January 2015, falling 14.32% compared with Sensex's 6.49% rise. The scrip had, however, outperformed the market in past one quarter, rising 11.88% as against Sensex's 6.72% rise.

The mid-cap PSU bank stock has equity capital of Rs 464.85 crore. Face value per share is Rs 10.

On absolute basis, gross non-performing assets (NPAs) edged up to Rs 5461.05 crore as on 31 December 2014, from Rs 5003.41 crore as on 30 September 2014 and Rs 3834.78 crore as on 31 December 2013. The ratio of gross NPAs to gross advances rose to 4.52% as on 31 December 2014, from 4.21% as on 30 September 2014 and 3.42% as on 31 December 2013. The ratio of net NPAs to net advances rose to 2.74% as 31 December 2014, from 2.55% as on 30 September 2014 and 2.25% as on 31 December 2013.

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