OBC climbs 4% on strong Q2 earnings

Oriental Bank of Commerce (OBC), leading nationalized public sector banks in India, climbed on Thursday after the bank posted a rise of 80.15% in net profit of Rs 3.02 billion for the quarter ended Sept. 30, 2012 as compared to Rs 1.67 billion for the quarter ended Sept. 30, 2011.

Total income has gone up 18.21% to Rs 48.21 billion for the quarter ended Sept. 30, 2012 from Rs 40.78 billion in the year ago period. Shares ofthe companyare trading at Rs 305.50, up Rs 11.8, or 4.02% at the Bombay Stock Exchange (BSE) on Thursday at 2:01 p.m.Net NPA was at 2.04% for the quarter ended Sept. 30, 2012, as compared to 1.90% for the quarter ended Sept. 30, 2011.

Net NPA was at Rs 23.93 billion for the quarter ended Sept. 30, 2012, as compared to Rs 19.78 billion for the quarter ended Sept. 30, 2011, representing an increase of 20.98%. The scrip has touched an intra-day high of Rs 308.75 and low of Rs 287.50. The total volume of shares traded at the BSE is 243,920.In the earlier session, the shares climbed 1.57%, or Rs 4.55, at Rs 293.70. Currently, the stock is trading down 5.71% from its 52-week high of Rs 324 and above 60.7% over the 52-week low of Rs 190.10.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 285.05 8.65 3.03 1 Month 283.20 10.50 3.71 3 Months 226.55 67.15 29.64 6 Months 237.80 55.90 23.51 1 Year 284.65 9.05 3.18 Note: Based on previous day closing price.