The stock finally ended at Rs 87, up 10% from the previous close. The counter witnessed trades of 1.14 million sharesas compared to the two-week daily average traded volumes of 150,532 shares. The stock soared 25% in a week.
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(Updated at 1037 hrs)
Allahabad Bank has soared on the back of a three-fold jump in net profit for the quarter ended June 2009.
The stock today opened at Rs 81 and then rallied to a high of Rs 90. The stock is now trading at Rs 87, up around 10% from the previous close. Around 469,858 shares have been so far on the BSE as compared to the two-week daily average traded volumes of 150,532 shares.
The bank has posted a 224% increase in the net profit for the quarter ended June,2009 to Rs 302.86 crore as compared to Rs 93.36 crore in the previous quarter, a year ago.
The bank's net interest income has gone up by 34.27% during April- June to Rs 629.06 crore