Indian Bank rose 2.1% to Rs 172.50 at 12:27 IST on BSE after net profit rose 2.8% to Rs 314.33 crore on 6.4% growth in total income to Rs 4340.32 crore in Q2 September 2014 over Q2 September 2013.
The Q2 result was announced yesterday, 6 November 2014, when the stock market was closed on account of Gurunanak Jayanti.
Meanwhile, the S&P BSE Sensex was down 109.19 points or 0.39% at 27,806.69.
On BSE, so far 2.32 lakh shares were traded in the counter as against average daily volume of 29,795 shares in the past one quarter.
The stock hit a high of Rs 174.30 and a low of Rs 170.10 so far during the day. The stock had hit a 52-week high of Rs 198.90 on 26 May 2014. The stock had hit a 52-week low of Rs 86.35 on 26 February 2014.
The stock had outperformed the market over the past one month till 5 November 2014, advancing 10.68% compared with the Sensex's 5.07% rise. The scrip had also outperformed the market in past one quarter, jumping 11.26% as against Sensex's 7.75% rise.
The mid-cap bank has equity capital of Rs 464.85 crore. Face value per share is Rs 10.
Indian Bank's ratio of net non-performing assets (NPAs) to net advances stood at 2.55% as on 30 September 2014, compared with 2.48% as on 30 June 2014 and 2.56% as on 30 September 2013. The bank's ratio of gross NPAs to gross advances stood at 4.21% as on 30 September 2014, compared with 4.01% as on 30 June 2014 and 3.76% as on 30 September 2013.
The banks provisions and contingencies jumped 27.4% to Rs 286.63 crore in Q2 September 2014 over Q2 September 2013.
Non-performing loan provision coverage ratio is 57.41% as on 30 September 2014.
The bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 13.05% as on 30 September 2014 as against 13.28% as on 30 June 2014 and 12.82% as on 30 September 2013.
Government of India holds 81.51% stake in Indian Bank (as per the shareholding pattern as on 30 September 2014).
Powered by Capital Market - Live News
