Oriental Bank of Commerce has rallied 5% at Rs 309 bouncing back over 7% from intra-day low after reporting 80% year-on-year (yoy) jump in net profit at Rs 302 crore in the September quarter on back of higher other income.
Net interest income (NII) grew by 17% at Rs 1,158 crore, while other income surged 47% at Rs 407 crore in September quarter over the corresponding quarter of previous year.
Gross NPA improved to 2.92% from 2.97%, while Net NPA was 2.04% from 2.05% on quarter-on-quarter basis.
The stock opened at Rs 295 and hit a low of Rs 288 on the BSE. As many as a combined 1.09 million shares have already changed hands on the counter so far against an average around 500,000 shares that were traded daily in past two weeks on both the exchanges.