Indian Bank jumps on reporting 13% rise in Q2 net profit

Indian Bank is currently trading at Rs. 211.50, up by 6.25 points or 3.05% from its previous closing of Rs. 205.25 on the BSE.

The scrip opened at Rs. 205.80 and has touched a high and low of Rs. 212.95 and Rs. 205.25 respectively. So far 21048 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 313.25 on 22-Oct-2010 and a 52 week low of Rs. 185.15 on 26-Aug-2011.

Last one week high and low of the scrip stood at Rs. 219.80 and Rs. 198.60 respectively. The current market cap of the company is Rs. 8821.03 crore.

The promoters holding in the company stood at 80.00% while Institutions and Non-Institutions held 14.09% and 5.91% respectively. 

Indian Bank’s net profit for the second quarter has increased marginally by 12.73% at Rs 468.69 crore as compared to Rs 415.77 crore for the corresponding quarter of the last year. The bank’s total income has surged 31.96% at Rs 3377.13 crore for the quarter under review as compared to Rs 2559.28 crore for the second quarter of the previous year.

Indian Bank is a mid-sized government bank with over 1,860 branches across India, one branch in Singapore and two in Sri Lanka. It has a particularly strong presence in Tamil Nadu.