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Indian Bank drops after weak Q3 outcome

Capital Market  |  Mumbai 

declared the Q3 December 2012 result on Saturday, 2 February 2013.

Meanwhile, the Sensex was up 91.87 points, or 0.46%, to 19,873.06

On BSE, 53,089 shares were traded in the counter as against an average daily volume of 37,886 shares in the past one quarter.

The stock hit a high of Rs 198 and a low of Rs 189.45 so far during the day. The stock had hit a 52-week high of Rs 265 on 7 March 2012. The stock had hit a 52-week low of Rs 152 on 3 September 2012.

The stock had underperformed the market over the past one month till 1 February 2013, falling 3.47% compared with the Sensex's 1.02% rise.

The scrip, however, outperformed the market in past one quarter, rising 20.07% as against Sensex's 6.57% rise.

The mid-cap bank has an equity capital of Rs 429.77 crore. Face value per share is Rs 10.

Indian Bank's ratio of gross non-performing assets (NPA) to gross advances stood at 3.18% as on 31 December 2012, higher than 2.06% as on 30 September 2012 and 1.35% as on 31 December 2011. The ratio of net NPAs to net advances stood at 2.17% as of 31 December 2012, higher than 1.33% as of 30 September 2012 and 0.8% as on 31 December 2011.

Indian Bank's non performing loan provision coverage ratio was 61.23% as on 31 December 2012.

Indian Bank's Capital Adequacy Ratio (CAR) as per Basel II norms stood at 13.07% as on 31 December 2012, higher than 12.98% as on 30 September 2012 and 11.84% as on 31 December 2011.

Meanwhile, said before market hours today, 4 February 2013 it has decided to reduce its base rate by 0.30% from the existing 10.50% to 10.20% per annum and benchmark prime lending rate (BPLR) by 0.25% from the existing 14.75% to 14.50% per annum, both with effect from 9 February 2013.

The Government of India (GoI) holds 80% stake in (as per the shareholding pattern as on 31 December 2012).

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First Published: Mon, February 04 2013. 23:32 IST