Syndicate Bank drops on profit booking

Meanwhile, the BSE Sensex was up 17.40 points or 0.09% at 19,759.92

On BSE, 2.88 lakh shares were traded in the counter as against average daily volume of 1.29 lakh shares in the past one quarter.

The stock hit a high of Rs 142 and a low of Rs 137.50 so far during the day. The stock had hit a 52-week high of Rs 142.82 on 7 January 2013. The stock had hit a 52-week low of Rs 75 on 9 January 2012.

The stock outperformed the market over the past one month till 8 January 2013, rising 7.32% compared with the Sensex's 1.64% rise. The scrip had also outperformed the market in past one quarter, surging 26.08% as against Sensex's 5.52% gain.

The mid-cap public sector bank has equity capital of Rs 601.95 crore. Face value per share is Rs 10.

Shares of Syndicate Bank were on a roll recently, advancing 9.5% in eight trading sessions to Rs 139.95 on 8 January 2013 from its recent low of Rs 127.80 on 27 December 2012.

Syndicate Bank's consolidated net profit jumped 43.5% to Rs 463.60 crore on 13.2% growth in total income to Rs 4546.34 crore in Q2 September 2012 over Q2 September 2011.

The Government of India holds 66.17% stake in Syndicate Bank (as per the shareholding pattern as on 30 September 2012).

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