Merger buzz drives Centurion Bank

DALAL STREET SPIKES

Centurion Bank of Punjab (CBoP) surged 14.4 per cent to Rs 57 on the BSE due to reports that it was in advanced merger talks with HDFC Bank. Huge volumes of 1.22 crore shares were traded on the BSE.

The scrip had an average daily volume of 67.56 lakh shares in the past one quarter. The shares of HDFC Bank, on the other hand, were flat at Rs 1,542.90.

CboP's net profit rose 44 per cent to Rs 48.27 crore on 71.8 per cent rise in operating income to Rs 730.67 crore in Q3 December 2007 over Q3 December 2006.