ING Vysya Bank declined 1.01% to Rs 289 at 10:11 IST on BSE, after the bank's gross non-performing assets surged 84.27% to Rs 425.06 crore in Q2 September 2009 over in Q2 September 2008.
Meanwhile, the BSE Sensex was down 58.69 points, or 0.35%, to 16,752.12.
On BSE, 17,402 shares were traded in the counter as against an average daily volume of 1.87 lakh shares in the past one quarter.
The stock hit a high of Rs 294.40 and a low of Rs 287 so far during. The stock had hit a 52-week high of Rs 326.70 on 17 October 2009 and a 52-week low of Rs 103.25 on 6 March 2009.
The stock has fallen nearly 10% in five trading sessions from a recent high of Rs 320.80 on 17 October 2009.
The mid-cap bank stock had outperformed the market over the past one month till 23 October 2009, rising 7.02% as compared to the Sensex's 0.55% rise. It had also outperformed the market in the past one quarter, rising 41.69% as compared to the Sensex's return of 10.37%.
The bank's equity capital is Rs 119.43 crore. Face value per share is Rs 10.
The current price of Rs 289 discounts the bank's Q2 September 2009 annualized EPS of Rs 17.19, by a PE multiple of 16.81.
The ratio of gross non-performing assets (NPAs) increased to 2.57% as on Q2 September 2009 from 1.44% as on Q2 September 2008. The net NPAs as of Q2 September 2009 was at 1.78%, higher than 0.78% as on Q2 September 2008.
ING Vysya Bank's net profit rose 13.8% to Rs 53.47 crore on 5.4% rise in total income to Rs 690.47 crore in Q2 September 2009 over Q2 September 2008. The bank declared its results after market hours on Friday, 23 October 2009.
ING Vysya Bank provides retail banking, corporate banking, commercial banking, treasury management and rural banking services.