Corporation Bank rose 1.49% to Rs 434.72 at 12:20 IST after the net profit jumped 52.30% to Rs 291.67 crore on a 27.70% increase in total income to Rs 2072.34 crore in Q2 September 2009 over Q2 September 2008.
The result was announced during trading hours today, 29 October 2009.
Meanwhile, the BSE Sensex was down 182.65 points, or 1.12%, to 16100.84.
On BSE, 33,187 shares were traded in the counter as against an average daily volume of 16,344 shares in the past one quarter.
The stock hit a high of Rs 439 and a low of Rs 418.50 so far during the day. The stock had hit a 52-week high of Rs 480 on 21 October 2009 and a 52-week low of Rs 155 on 10 December 2008.
The stock had outperformed the market over the past one month till 28 October 2009, rising 6.17% as compared to the Sensex 2.45% fall. It outperformed the market in past one quarter, gaining 24.16% as against 6.21% rise in the Sensex.
The mid-cap public sector bank has an equity capital of Rs 143.44 crore. Face value per share is Rs 10.
The current price of Rs 434.72 discounts the company's Q1 June 2009 annualised EPS of Rs 72.85, by a PE multiple of 5.96.
Corporation Bank provides a wide range of banking and financial services through its branches spread out all over India. The bank specialize in a number of areas, including credit appraisal, credit monitoring, export credit and retail lending.
The Government of India holds 57.17% in Corporation Bank as of 30 September 2009.