Dena Bank declined 4.77% to Rs 71.90 at 11:51 IST on BSE, after net non-performing assets surged 49.69% to Rs 371.60 crore in Q2 September 2009 over Q2 September 2008.
Meanwhile, the BSE Sensex was up 19.13 points, or 0.11%, to 16,829.94.
On BSE, 23.42 lakh shares were traded in the counter as against an average daily volume of 11.83 lakh shares in the past one quarter.
The stock hit a high of Rs 76.60 and a low of Rs 70.55 so far during. The stock had hit a 52-week high of Rs 80.80 on 21 October 2009 and a 52-week low of Rs 24.40 on 27 October 2008.
Ahead of Q2 September 2009 results, the stock rose 1.41% to Rs 75.50 on Friday, 23 October 2009. Earlier, the stock had declined 5.94% to Rs 74.45 on 22 October 2009 from a recent high of Rs 79.15 on 20 October 2009.
The mid-cap bank stock had outperformed the market over the past one month till 23 October 2009, gaining 21.68% as compared to the Sensex's 0.55% rise. It had also outperformed the market in the past one quarter, surging 40.47% as compared to the Sensex's return of 10.37%.
The bank's equity capital is Rs 286.82 crore. Face value per share is Rs 10.
The current price of Rs 71.90 discounts the bank's Q1 June 2009 annualized EPS of Rs 16.04, by a PE multiple of 4.48.
The bank's gross non-performing assets (NPAs) rose 5.16% to Rs 597.73 crore in Q2 September 2009 over Q2 September 2008. The ratio of gross NPAs decreased to 1.98% as on Q2 September 2009 from 2.32% as on Q2 September 2008. The net NPAs as of Q2 September 2009 was at 1.24%, higher than 1.02% as on Q2 September 2008.
Dena Bank's net profit rose 21.21% to Rs 124.64 crore on 19.06% rise in total income to Rs 1088.03 crore in Q2 September 2009 over Q2 September 2008. The company declared its results during trading hours today, 26 October 2009.
The bank provides commercial banking and other related services. It also provides in merchant banking, asset management and other related services.