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Updated: 11/06/2009 | 12:00 AM IST
ING Vysya Bank moves south
Capital Market
Thursday, June 11, 2009 (New Delhi)
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Meanwhile, BSE Sensex was down 32.38 points or 0.21% to 15,435.60

On BSE, 11415 shares were traded in the counter. The scrip had an average daily volume of 31888 shares in the past one quarter.

The stock hit a high of Rs 184.15 and a low of Rs 175.55 so far during the day. The stock had a 52-week high of Rs 271 on 8 September 2008 and a 52-week low of Rs 103.25 on 6 March 2009.

The mid-cap bank had underperformed the market over the past one month till 10 June 2009, advancing 15.91% as compared to the Sensex's return of 30.23%. It had also underperformed the market in the past one quarter, surging 62.23% as compared to the Sensex's return of 89.53%.

The bank's current equity is Rs 102.60 crore. Face value per share is Rs 10. The current price of Rs 180 discounts Q4 March 2009 annualized EPS of Rs 19.15, by a PE multiple of 9.39

The stock had lost 3.54% to Rs 170.50 on 10 June 2009 after the bank in a clarification to stock exchanges said the news report of ING looking to sell its Indian operations and that it is looking at divesting its holdings in ING Vysya Bank as speculative. Foreign promoter ING holds a 43.81% stake in the Bangalore-based ING Vysya Bank (as at end March 2009).

ING is a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services.

ING Vysya Bank's net profit rose 14.6% to Rs 49.13 crore on 33% rise in total income to Rs 756.78 crore in Q4 March 2009 over Q4 March 2008.

ING Vysya Bank was formed with the merger of Vysya Bank and ING in October 2002.The bank provides retail banking, corporate banking, commercial banking, treasury management and rural banking services.

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