OBC tumbles on profit booking

Oriental Bank of Commerce fell 5.43% to Rs 212.45 at 14:39 IST on BSE on profit booking after the stock jumped 18.02% in the preceding four trading sessions to Rs 224.65 on 10 December 2013, from a recent low of Rs 190.35 on 4 December 2013.

Meanwhile, the BSE Sensex was down 136.44 points, or 0.64%, to 21,118.82.

On BSE, so far 2.70 lakh shares were traded in the counter, compared with an average volume of 2.75 lakh shares in the past one quarter.

The stock hit a high of Rs 225.30 and a low of Rs 211.40 so far during the day. The stock hit a 52-week high of Rs 367.50 on 10 December 2012. The stock hit a 52-week low of Rs 121.40 on 29 August 2013.

The stock had outperformed the market over the past one month till 10 December 2013, rising 23.81% compared with the Sensex's 2.85% rise. The scrip had also outperformed the market in past one quarter, rising 54.82% as against Sensex's 6.29% rise.

The mid-cap company has an equity capital of Rs 291.76 crore. Face value per share is Rs 10.

Oriental Bank of Commerce's (OBC) net profit declined 16.8% to Rs 251.41 crore on 3.45% growth in total income to Rs 4987.71 crore in Q2 September 2013 over Q2 September 2012.

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

Powered by Capital Market - Live News