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Strong Q3 numbers generate interest in Allahabad Bank

Capital Market / 15:04 , Jan 30, 2012

Allahabad Bank rose 0.96% to Rs 158.50 at 15:02 IST on BSE after net profit rose 34.78% to Rs 560.43 crore on 36.85% growth in total income to Rs 4260.28 crore in Q3 December 2011 over Q3 December 2010.

The state-run bank announced the results during trading hours today, 30 January 2012.

Meanwhile, the BSE Sensex was down 326.89 points, or 1.9% to 16,907.09.

On BSE, 6 lakh shares were traded in the counter as against average daily volume of 1.51 lakh shares in the past one quarter.

The stock hit a high of Rs 164.25 and a low of Rs 157.50 so far during the day. The stock had hit a 52-week low of Rs 113.60 on 29 December 2011. The stock had hit a 52-week high of Rs 240 on 30 March 2011.

The mid-cap stock had outperformed the market over the past one month till 27 January 2012, surging 29.75% compared with Sensex's 8.57% return. The scrip had also outperformed the market over the past one quarter, rising 10.29% as against Sensex's 0.32% fall.

The state-run bank has an equity capital of Rs 476.22 crore. Face value per share is Rs 10.

Allahabad Bank's capital adequacy ratio (CAR) stood at 12.75% as on 31 December 2011, compared with 12.78% as on 31 December 2010. The bank's gross non-performing assets (NPA) ratio stood at 1.86% of gross advances as on 31 December 2011, higher than 1.77% as on 30 September 2011. The net NPA ratio was at 0.79% of net advances as on 31 December 2011, higher than 0.69% as on 30 September 2011 and 0.59% as on 31 December 2010.

The Government of India (GoI) holds 58% stake in Allahabad Bank.

 



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