Central Bank of India jumped 3.07% to Rs 134.25 at 14:04 IST on BSE, after net profit soared 226.50% to Rs 313.93 crore in Q2 September 2009 over Q2 September 2008.
The bank declared its results during trading hours today, 30 October 2009.
Meanwhile, the BSE Sensex was down 169.50 points, or 1.06%, to 15,883.22.
On BSE, 3.81 lakh shares were traded in the counter as against an average daily volume of 4.05 lakh shares in the past one quarter.
The stock hit a high of Rs 137.95 and a low of Rs 133 so far during the day. The stock had hit a 52-week high of Rs 164.20 on 30 September 2009 and a 52-week low of Rs 29.75 on 9 March 2009.
Ahead of Q2 September 2009 results, the stock had declined 0.99% to Rs 130.25 on 29 October 2009.
The mid-cap bank stock had underperformed the market over the past one month till 29 October 2009, falling 5.96% as compared to the Sensex's 4.75% fall. It had outperformed the market in the past one quarter, rising 29.09% as compared to the Sensex's return of 5.79%.
The bank's equity capital is Rs 404.14 crore. Face value per share is Rs 10.
The current price of Rs 134.25 discounts the bank's Q1 June 2009 annualized EPS of Rs 26.41, by a PE multiple of 5.08.
Central Bank of India's total income rose 22.22% to Rs 3384.12 crore in Q2 September 2009 over Q2 September 2008.
The bank's gross non-performing assets (NPA) rose 7.23% to Rs 2429.96 crore in Q2 September 2009 over Q2 September 2008. The ratio of gross NPAs decreased to 2.64% as on 30 September 2009 from 2.79% as on 30 September 2008. The net NPAs as of 30 September 2009 was at 0.69%, lower than 1.17% as of 30 September 2008.
The bank provides loans and advances for housing, retail trade, automobiles, consumer durables, education and other personal loans and deposit services.
The Government of India holds 80.21% stake in the bank as on 30 September 2009.