Bank of Baroda rose 2.72% to Rs 500 at 11:57 IST on BSE after net profit surged 60.43% to Rs 634.18 crore in Q2 September 2009 over Q2 September 2008.
Meanwhile, the BSE Sensex was down 45.97 points, or 0.28%, to 16,307.43.
On BSE, 1.59 lakh shares were traded in the counter as against an average daily volume of 1.13 lakh shares in the past one quarter.
The stock hit a high of Rs 502 and a low of Rs 467.20 so far during the day. The stock had hit a 52-week high of Rs 548 on 17 October 2009 and a 52-week low of Rs 180.50 on 9 March 2009.
The stock had declined 9.42% in six trading sessions to Rs 486.75 on 27 October 2009 from a recent high of Rs 537.35 on 17 October 2009.
The large-cap bank stock had outperformed the market over the past one month till 27 October 2009, rising 2.18% as compared to the Sensex's 2.03% fall. It had also outperformed the market in the past one quarter, gaining 16.52% as compared to the Sensex's return of 6.36%.
The bank's equity capital is Rs 367 crore. Face value per share is Rs 10.
The current price of Rs 500 discounts the bank's Q1 June 2009 annualized EPS of Rs 75, by a PE multiple of 6.67.
Bank of Baroda's total income rose 17.48% to Rs 4730.75 crore in Q2 September 2009 over Q2 September 2008. The bank declared its results during trading hours today, 28 October 2009.
The bank's gross non-performing assets (NPA) rose 0.12% to Rs 1956.69 crore in Q2 September 2009 over Q2 September 2008. The ratio of gross NPAs decreased to 1.30% as on 30 September 2009 from 1.62% as on 30 September 2008. The net NPAs as of 30 September 2009 was at 0.27% lower than 0.43% as of 30 September 2008.
Bank of Baroda provides banking and related services through 2,732 branches in India and 40 overseas branches. The services include accepting deposits, commercial and institutional credit, project finance, treasury, forex, investment and risk management and other related financial services.