Bank of India spurted 13.06% to Rs 195.70 at 13:05 IST on BSE after net profit surged 105.98% to Rs 621.77 crore on 16.18% growth in total income to Rs 10339.55 crore in Q2 September 2013 over Q2 September 2012.
The Q2 result was announced during trading hours today, 31 October 2013.
Meanwhile, the S&P BSE Sensex was up 63.90 points or 0.3% at 21,097.87.
On BSE, 16.03 lakh shares were traded in the counter as against average daily volume of 3.53 lakh shares in the past one quarter.
The stock hit a high of Rs 195.40 and a low of Rs 173.85 so far during the day. The stock had hit a 52-week high of Rs 392.20 on 18 January 2013. The stock had hit a 52-week low of Rs 126.95 on 28 August 2013.
The stock outperformed the market over the past one month till 30 October 2013, surging 9.63% compared with the Sensex's 8.54% rise. The scrip had, however, underperformed the market in past one quarter, sliding 0.6% as against Sensex's 8.71% rise.
The large-cap state-run bank has equity capital of Rs 595.90 crore. Face value per share is Rs 10.
Bank of India (BoI)'s operating profit rose 13.43% to Rs 2103 crore in Q2 September 2013 over Q2 September 2012. Net interest income (NII) rose 15.07% to Rs 2527 crore in Q2 September 2013 over Q2 September 2012. Non-interest income grew 23.04% to Rs 1100 crore.
Global net interest margin (NIM) improved to 2.39% in Q2 September 2013 from 2.35% in Q2 September 2012. Domestic NIM improved to 2.93% in Q2 September 2013 from 2.7% in Q2 September 2012.
Global deposits grew 29.93% to Rs 432282 crore as on 30 September 2013 from Rs 332694 crore as on 30 September 2012. Advances rose 29.36% to Rs 336823 crore as on 30 September 2013 from Rs 260379 crore as on 30 September 2012.
CASA deposits rose 13.85% to Rs 95828 crore as on 30 September 2013 from Rs 84170 crore as on 30 September 2012.
Gross non-performing assets (NPA) ratio improved to 2.93% as on 30 September 2013 from 3.04% as on 30 June 2013 and 3.42% as on 30 September 2012. Net NPA ratio improved to 1.85% as on 30 September 2013 from 2.1% as on 30 June 2013 and 2.04% as on 30 September 2012.
Provision coverage ratio improved to 63.29% as on 30 September 2013 from 60.96% as on 30 September 2012.
The bank's Capital Adequacy Ratio (CAR) under Basel II norms stood at 11.3% as on 30 September 2013. CAR as per Basel III norms stood at 10.77% as on 30 September 2013 (including additional capital infusion of Rs 1000 crore approved by Government of India).
The Government of India holds 64.11% stake in BoI (as per the shareholding pattern as on 30 September 2013). As of 30 September 2013, BoI's distribution network stood at 4,479 branches and 2,905 ATMs.
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