Bank of India tumbled 9.03% to Rs 371.25 at 14:07 IST on BSE, after net profit plunged 57.61% to Rs 323.34 crore in Q2 September 2009 over Q2 September 2008.
Meanwhile, the BSE Sensex was down 67.70 points, or 0.42%, to 16,215.79.
On BSE, 4.96 lakh shares were traded in the counter as against an average daily volume of four lakh shares in the past one quarter.
The stock hit a high of Rs 408.10 and a low of Rs 367.20 so far during the day. The stock had hit a 52-week high of Rs 474.70 on 17 October 2009 and a 52-week low of Rs 179.60 on 9 March 2009.
The stock has fallen 17.01% in five trading sessions from a recent high of Rs 447.35 on 22 October 2009.
The large-cap bank stock had outperformed the market over the past one month till 28 October 2009, rising 1.72% as compared to the Sensex's 2.45% fall. It had also outperformed the market in the past one quarter, gaining 28.01% as compared to the Sensex's return of 6.21%.
The bank's equity capital is Rs 525.17 crore. Face value per share is Rs 10.
The current price of Rs 371.25 discounts the bank's Q1 June 2009 annualized EPS of Rs 44.44, by a PE multiple of 8.35.
Bank of India's total income rose 11.98% to Rs 5164.96 crore in Q2 September 2009 over Q2 September 2008. The bank declared its results during trading hours today, 29 October 2008.
The bank's gross non-performing assets (NPA) jumped 98.15% to Rs 3919.72 crore in Q2 September 2009 over Q2 September 2008. The ratio of gross NPAs increased to 2.61% as on 30 September 2009 from 1.53% as on 30 September 2008. The net NPAs as of 30 September 2009 was at 1.08%, higher than 0.48% as of 30 September 2008.
The state-run bank is engaged in banking services. The services of the group include acceptance of deposits, provision of loans, financing rehabilitation, treasury and investment management services to consumers and industries.
The Government of India holds 64.47% stake in the bank (as on 30 September 2009).