India's Bank of Maharashtra up on quarterly profit rise

UCO Bank

26/04/2024 10:15

** Shares of Bank of Maharashtra  BMBK.NS  up as much as
6.4% at 69.4 rupees; last up 4% 
    ** BMBK stock leads gains in Nifty PSU Bank Index
 .NIFTYPSU , which is currently trading flat 
    ** Lender reports a 45% jump in March-qtr net profit to
12.18 bln rupees ($146.2 mln); interest earned rises 21.6% Y/Y
    ** Stock on track to snap to two straight weeks of losses if
trends hold 
    ** More than 80 mln shares change hands by 2:36 p.m. IST,
2.8x the 30-day avg
    ** Including session's gains, stock is up 50.5% YTD,
outpacing peers Punjab & Sind Bank  PUNA.NS  and UCO Bank
 UCBK.NS , which are up 44% each    


($1 = 83.2850 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))