IndusInd Bank stock jumps 8%; mcap up Rs 1,576 crore post earnings
Shares of IndusInd Bank today surged nearly 8 per cent to a record high after the company posted 37.6 per cent jump in net profit for the quarter ended March 31, 2013.
By PTI | Updated:
MUMBAI: Shares of IndusInd Bank today surged nearly 8 per cent to a record high after the company posted 37.6 per cent jump in net profit for the quarter ended March 31, 2013.
Buoyed by the smart numbers, shares of the company gained 8.55 per cent to Rs 455.70 -- its all-time high on BSE intra day. The stock finally ended at Rs 450.10, up 7.22 per cent.
At NSE, the scrip shot up by 7.71 per cent to settle at Rs 451.95.
Led by the rally in the stock the market value of the bank rose by Rs 1,576 crore to Rs 23,518 crore.
"IndusInd's Q4 profits beat analyst estimates by growing at 37 per cent Y-o-Y," said Nagji K Rita, Chairman & MD, Inventure Growth and Securities.
IndusInd Bank today posted 37.6 per cent jump in net profit at Rs 307.40 crore for the fourth quarter ended March.
The bank had a net profit of Rs 223.38 crore in the same quarter of the previous fiscal, 2011-12.
Total income of the bank rose to Rs 2,190.66 crore in the January-March quarter as compared to Rs 1,773.07 crore in the same period previous fiscal, IndusInd Bank said in a filing to the BSE.
The bank has proposed a dividend of 30 per cent, or Rs 3, per share for 2012-2013.
In the stock market, the BSE benchmark Sensex ended the day 285.30 points higher at 19,016.46.
Buoyed by the smart numbers, shares of the company gained 8.55 per cent to Rs 455.70 -- its all-time high on BSE intra day. The stock finally ended at Rs 450.10, up 7.22 per cent.
At NSE, the scrip shot up by 7.71 per cent to settle at Rs 451.95.
Led by the rally in the stock the market value of the bank rose by Rs 1,576 crore to Rs 23,518 crore.
"IndusInd's Q4 profits beat analyst estimates by growing at 37 per cent Y-o-Y," said Nagji K Rita, Chairman & MD, Inventure Growth and Securities.
IndusInd Bank today posted 37.6 per cent jump in net profit at Rs 307.40 crore for the fourth quarter ended March.
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The bank had a net profit of Rs 223.38 crore in the same quarter of the previous fiscal, 2011-12.
Total income of the bank rose to Rs 2,190.66 crore in the January-March quarter as compared to Rs 1,773.07 crore in the same period previous fiscal, IndusInd Bank said in a filing to the BSE.
The bank has proposed a dividend of 30 per cent, or Rs 3, per share for 2012-2013.
In the stock market, the BSE benchmark Sensex ended the day 285.30 points higher at 19,016.46.
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