Andhra Bank finally settled flat at Rs 62. The stock clocked a volume of 1.10 million shares throughout the day.
Andhra Bank has rebounded into the positive zone on the back of strong Q4 numbers.
The stock had touched a high of Rs 64 in early trades, but then slipped into red to a low of Rs 60 - down over 6% from the day's high - on the back of weakness in the market.
The stock has now rebounded into the positive zone and is now up nearly 2% at Rs 63. The counter has seen fairly heavy volumes of around 670,070 shares so far on the BSE as against its two-week daily average traded volume of around 121,780 shares.
According to a release issued by Andhra Bank, the bank's Q4 net profit surged 62% to Rs 201.21 crore for the quarter ended March 31, 2009, when compared with Rs 124.25 crore in the corresponding quarter a year ago. Total income increased 36% to Rs 1,827.10 crore from Rs 1,342.96 crore.
