Indian Bank jumped 5.32% to Rs 228.55 at 11:41 IST on BSE, after a bulk deal of 10.18 lakh shares was executed on the scrip at Rs 225.50 per share at 09:41 IST on BSE.
Meanwhile, the S&P BSE Sensex was up 145.60 points, or 0.52%, to 28,150.97
Bulk deal boosted volume on the scrip. On BSE, so far 17.31 lakh shares were traded in the counter, compared with an average daily volume of 2.11 lakh shares in the past one quarter. The stock hit a high of Rs 236.80 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 218.80 so far during the day. The stock hit a 52-week low of Rs 76 on 29 February 2016. The stock had outperformed the market over the past 30 days till 17 August 2016, rising 13.02% compared with 0.78% rise in the Sensex. The scrip also outperformed the market in past one quarter, surging 40.86% as against Sensex's 10.26% rise.
The large-cap state-run bank has equity capital of Rs 480.29 crore. Face value per share is Rs 10.
Indian Bank's net profit rose 42.77% to Rs 307.36 crore on 0.41% rise in total income to Rs 4512.96 crore in Q1 June 2016 over Q1 June 2015.
Government of India currently holds 82.1% stake in Indian Bank (as on 30 June 2016).
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