India's Bank of Maharashtra hits over 9-year high on quarterly profit rise

Bank of Maharashtra

16/01/2024 07:13

** Shares of Bank of Maharashtra  BMBK.NS  rise as much as
3.7% to 52.25 rupees, hitting their highest since early July,
2014
    ** Lender reports a 33.6% jump in Dec-qtr net profit to
10.36 billion rupees ($124.87 million); interest earned up ~25%
Y/Y
    ** BMBK last up 1.9%; on track for fourth straight session
of gains
    ** Stock trading above its 50-, 100-, and 200-day moving
averages since late Dec 2023
    ** More than 80.6 mln shares change hands, 2.6x the 30-day
avg 
    ** Stock had gained ~47% in 2023 posting fourth straight
year of gains vs a 32% rise in the Nifty PSU Bank Index
 .NIFTYPSU  

    
($1 = 82.9650 Indian rupees)

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))