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Allahabad Bank gains 8% on good Q4 numbers

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BS Reporter Mumbai

Allahabad Bank today opened at Rs 54, up Rs 2, it then touched a low of Rs 53. The stock touched a high of 57.65 on the back of good Q4 results. The stock finally gained 8% (Rs 4), at Rs 57. A total of 1.26 million shares were traded on the BSE today.

Updated at 1449 hrs

Allahabad Bank today opened at Rs 54, up Rs 2, it then touched a low of Rs 53. Unabated buying at the counter helped the stock remain firm. The stock got further fillip after the bank announced its Q4 results, and soon soared to a high of Rs 57.65.

 

The stock is currently trading at Rs 57, up over 9% from the previous close. The counter has seen trades of around 1 million shares on the BSE so far.

According to a release issued by the Allahabad Bank to the BSE today, the bank's Q4 net profit for the quarter ended March 31, 2009, rose over 55% to Rs 264.08 crore as against Rs 169.50 crore in the corresponding quarter a year ago.

Total Income has increased by nearly 20% to Rs 2,373.37 crore for the quarter ended March 31, 2009 when compared with Rs 1,980.16 crore for the quarter ended March 31, 2008.

 

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First Published: May 04 2009 | 4:39 PM IST

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