Indian Bank lost 3.21% to Rs 96.35 at 15:14 IST on BSE after net profit declined 38.43% to Rs 305.76 crore on 8.06% growth in total income to Rs 4078.24 crore in Q2 September 2013 over Q2 September 2012.
The Q2 result was announced during trading hours today, 8 November 2013.
Meanwhile, the S&P BSE Sensex was down 139.15 points or 0.67% at 20,683.62.
On BSE, 5.50 lakh shares were traded in the counter as against average daily volume of 1.73 lakh shares in the past one quarter.
The stock was volatile. The stock lost as much as 6.07% at the day's low of Rs 93.50 so far during the day. The stock rose as much as 0.5% at the day's high of Rs 100.05 so far during the day. The stock had hit a 52-week high of Rs 218.85 on 7 January 2013. The stock had hit a 52-week low of Rs 60.50 on 28 August 2013.
The stock had outperformed the market over the past one month till 7 November 2013, surging 38.94% compared with the Sensex's 4.66% rise. The scrip had also outperformed the market in past one quarter, advancing 38.17% as against Sensex's 11.56% rise.
The mid-cap state-run bank has equity capital of Rs 429.77 crore. Face value per share is Rs 10.
Indian Bank's ratio of gross non-performing assets (NPAs) to gross advances increased to 3.76% as on 30 September 2013 from 3.41% as on 30 June 2013 and 2.06% as on 30 September 2012. The ratio of net NPAs to net advances increased to 2.56% as on 30 September 2013 from 2.31% as on 30 June 2013 and 1.33% as on 30 September 2012.
The bank's Capital Adequacy Ratio (CAR) as per Basel II norms stood at 13.27% as on 30 September 2013 as against 13.06% as on 30 June 2013 and 12.96% as on 30 September 2012. CAR as per Basel III norms stood at 12.82% as on 30 September 2013.
Indian Bank's provisions and contingencies rose 11.27% to Rs 224.96 crore in Q2 September 2013 over Q2 September 2012. Provision coverage ratio as on 30 September 2013 stood at 58.62%.
The Government of India (GoI) holds 80% stake in Indian Bank (as per the shareholding pattern as on 30 September 2013).
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