Shares of Syndicate Bank today advanced by nearly 9 per cent after the lender reported 27.68 per cent jump in the July-September quarter profit.
The stock soared 8.61 per cent to end at Rs 89.55 on BSE. During the day, it zoomed 14 per cent to Rs 94.
At NSE, shares of the company surged 8.48 per cent to close at Rs 89.50.
The company's market valuation rose by Rs 643.15 crore to Rs 8,100.15 crore.
In terms of equity volume, 28.44 lakh shares of the company were traded on BSE and over 2 crore shares changed hands at NSE during the day.
The state-owned bank yesterday reported 27.68 per cent jump in the July-September quarter profit to Rs 105.24 crore on annual basis, notwithstanding the rise in bad loans.
The Manipal-headquartered bank had posted a profit of Rs 82.42 crore in the same quarter of the previous fiscal.
Its total was income was Rs 6,419.21 in the second quarter of the current fiscal, down from Rs 6,574.93 crore in the comparable period of 2016-17.
Operating profit, however, increased to Rs 1,173.74 crore from Rs 1,016.54 crore in the year ago quarter.
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