The Corporation Bank share darted up 12.48 per cent yesterday, to close at Rs 119 on the Bombay Stock Exchange (BSE), recovering from its intra-day low of Rs 104.40 following some block deals.
The buzz said two block deals of around 15 lakh Corporation Bank shares was executed on the BSE and the National Stock Exchange combined.
A prominent mutual fund floated by a large corporate house, a foreign joint venture broking firm and another large operator were said to be involved in the block deals.
In the last 24 trading sessions, the scrip had shed 23 per cent to touch Rs 105.80 on February 1, 2002, from Rs 136.85 on December 31, 2001. In the same period, the stock had touched a high of Rs 150 and a low of Rs 105.20.
For the third quarter ended December 31, 2001, the Mangalore-based bank registered a 10.3 per cent rise in its net profit to Rs 91.45 crore compared with Rs 82.96 crore in the corresponding period last year.
Total income rose by 15.54 per cent to Rs 602.08 crore from Rs 521 crore in the December quarter 2000. Interest costs increased from Rs 295 crore to Rs 336.95 crore in the December quarter 2001.
